"We've been getting hundreds of BharatPe CVs in the last week. Over 400 at last count. This is across functions such as business, finance, and sales", a founder of a fintech told Moneycontrol, underscoring the fear and uncertainty gripping BharatPe employees, as a power struggle is underway between co-founder Ashneer Grover and the board.
It's a rapid decline in fortune for BharatPe, which made headlines last year for handing out BMW bikes and Dubai workcations to lure engineers amidst an unprecedented war for talent.
This founder is not alone. Sources say over 400 BharatPe employees have applied to other fintechs, lenders, and startups for jobs amid a governance probe investigating alleged fraud and misgovernance at one of India’s hottest startups.
Employees across functions including business, operations, and products have been applying to other companies as many are in disbelief over the murky details spilling out of the company and about its co-founder Ashneer Grover in the last few weeks. While many employees have already started joining some of these companies, many are serving their notice period. While the current headcount wasn't available, industry sources said BharatPe could have anywhere between 600-1000 employees, which means nearly half of them are looking to quit.