Ashneer Grover Biography: Indian businessman Ashneer Grover is the former co-founder and managing director (MD) of BharatPe, a fintech company. He founded BharatPe along with Shashvat Nakrani and Bhavik Koladiya in 2018. He became a household name with his appearance as an investor on the reality TV show “Shark Tank India Season 1”. This write-up will give you all the information about Ashneer Grover’s Age, Wife, Education, Net Worth, Career, and so on. So, keep reading.
Ashneer Grover Biography
| Name | Ashneer Grover |
| Birth Date | June 14, 1982 |
| Age | 40 years, as of 2022 |
| Birth Place | Delhi |
| Wife | Madhuri Jain Grover |
| Founder | BharatPe |
| Son | Avy Grover (11 years old) |
| Daughter | Mannat Grover |
| Net Worth | 790 Crores. |
Ashneer Grover Life and Education
Ashneer Grover was born on June 14, 1982 (40 years, as of 2022). He was born and brought up in Delhi. His father was a Chartered Accountant (CA) and his mother was a teacher at a local school. He completed his elementary education in Delhi itself. He completed his graduation in B.Tech in Civil Engineering from IIT Delhi. During his graduation days, he got selected by IIT Delhi in an exchange student program for INSA Lyon University in France. He moved to France in 2002.
In 2004, he got himself enrolled in an MBA in Finance program at IIM Ahmedabad. A campus placement by IIM Ahmedabad landed him at Kotak Investment Banking, Mumbai as a Vice president. He then worked in various companies such as Grofers, PC Jewellers Ltd., and American Express. In 2018, Ashneer Grover, along with Shashvat Nakrani and Bhavik Koladiya, launched the BharatPe app which has 1crore+ downloads on Play Store. Also, it is one of the most used payment applications in India today.
Ashneer Grover Family
Ashneer Grover is married to Madhuri Jain Grover. She is also an entrepreneur. She was an interior designer and worked with famous brands such as Satya Paul and Alok Industries. Also, she had her own furnishing business named Mauve and Brown. She also worked with south Indian actress Asin and her husband Rahul Sharma. She also completed the interior of her house in Delhi.
When Ashneer started BharatPe, he could not afford many employees, so Madhuri joined BharatPe to help him with the internal operations. She manages HR, finance, and other business operations.
Ashneer Grover and Madhuri Jain Grover have two children, a son Avy Grover (11 years old), and a daughter, Mannat Grover.
Ashneer Grover Career
As an Investment Banker
With an excellent academic record, Ashneer got a chance to work as vice president in Kotak Investment Banking after he completed his MBA in Finance in 2006. He worked on various IPO deals as part of his job as an investment banker. He left that position in 2013 after working there for almost seven years.
As an MNC Employee
In May 2013, he joined American Express as a Director – Corporate. He left the job after working here for almost 2 years because he wanted to do something different.
As a Chief Financial Officer
In March 2015, Ashneer joined Grofer as a Chief Financial Officer (CFO). After working there for a while, he left the company in August 2017.
As the Head of PC Jewellers
After leaving Grofers, Ashneer took some time off to meet with various investors and make new connections. Afterward, he joined PC Jewellers in November 2017 as a Business Head and helped them develop payment strategies and other options that would help with overall business development. He resigned from the job in October 2018.
As a Founder of BharatPe
In 2018, Ashneer came up with the idea of BharatPe-a payment application that became one of India’s most popular applications in a short amount of time. He founded BharatPe along with Shashvat Nakrani and Bhavik Koladiya. The company is headquartered in New Delhi and is one of India’s leading fintech companies. However, followed by some controversies, Ashneer resigned as MD and the company’s board director post on February 28, 2022.
What is the reach of BharatPe?
BharatPe has over 75 lakh merchants using its services across 150 cities. The company was co-founded by Mr. Grover and Shashvat Nakrani in 2018 and offers fintech products like interoperable QR codes for payments and small business financing. The company has facilitated the disbursement of loans of over ₹3,000 crore to its merchants since its launch. BharatPe has also raised $ 178 million in equity and debt, to date.
The company is currently valued at $2.8 billion.
As a Shark Tank Judge
In 2021, he appeared as a judge on the Indian version of Shark Tank. He became one of the seven Shark investors in the first season of this show. Six other investors are Vineeta Singh, Peyush Bansal, Namita Thapar, Anupam Mittal, Ghazal Alagh, and Aman Gupta. The reality show features people who pitch their business ideas to a panel of judges in hopes that one or more will invest money in the venture. Ashneer invested in as many as 55 start-ups including The Whole Truth, India Gold, OTO Capital, and Front Row in this reality show.
Also Read : vineeta-singh-biography
Ashneer Grover Net Worth
With an approximate net worth of $95 million USD, Ashneer Grover, the co-founder of BharatPe, stands as a testament to the dynamic success he has achieved in the world of business and fintech. His entrepreneurial journey, coupled with strategic decisions and a deep understanding of the financial technology sector, has propelled both him and BharatPe into the spotlight. Grover’s ability to navigate the intricacies of the industry and steer BharatPe to success has not only contributed to his personal wealth but has also solidified his position as a prominent figure in the Indian startup landscape. As a leader and innovator, Ashneer Grover’s substantial net worth reflects the value and impact he has brought to the fintech realm, highlighting the significance of his contributions to the business world.
- Ashneer Grover Net Worth in Rupees
Ashneer Grover, the visionary co-founder of BharatPe, commands an impressive net worth of approximately Rs. 790 Crores. This financial milestone underscores Grover’s remarkable journey in the fintech industry and his pivotal role in steering BharatPe towards success. Known for his dynamic leadership style, Grover has not only contributed to the rapid growth of BharatPe but has also become a noteworthy figure in India’s startup ecosystem. The valuation of his net worth in rupees is a testament to his entrepreneurial acumen and the impact of BharatPe on the digital payment landscape. As the fintech sector continues to evolve, Ashneer Grover’s substantial net worth reflects the culmination of his strategic decisions, business prowess, and the undeniable success of BharatPe in revolutionizing financial technology in India.
Ashneer Grover Awards
- In 2021, Ashneer Grover won the Entrepreneur of the year award.
- In January 2021, he was also honored with the young achiever award.
We hope that after reading this article, you got all the detailed information about the Ashneer Grover family, biography, net worth, awards, and much more. Thanks for reading!
Also Read : ashneer-grover-net-worth
Ashneer Grover Said In His Linked In Post For Third Unicorn Private Limited
- “ So if you want to be part of the next TODU – FODU thing, here’s a sneak peek on HOW we are building ! WHAT we are building remains the billion dollar question!.” We are getting started – Sharted. Let’s begin the fun. VC – SheC’s Please stay away.
- We use only Desi/self-earned capital. FAUJ – SHAUL nhi khadi karni (sic).” Talking about hiring plans and other startegies, he said, “Maximum 50 people team. KAAM – SHAAM se aukaat hogi. Feete to joote mein bhi hote hain, $1,000,00,00,000 Revenue – Shevenue. “106 unicorn to vaise bhi hain. No faaltu ka Board – SHOARD.
- Uncles are advised to apply for their RWAs. 5 saal poore hone pe Mercedes-Shercedes. Gratuity to bezzati liye hoti hai.People who want to build BIG-SHIG,” he said. Further, Grover said, “Chhoti bachi ho kya? Kuch TODU-FODU karne ka man hai next? Join us: team@third-unicorn.com. FOMO-SHOMO ha rha hai kay? To get on the cap table, get hold of the man himself.”
Ashneer And Bharat Pe
- As mentioned earlier Bharat Pe was founded by Bhavik Koladia , Shashvat Nakrani and Ashneer Grover. Bharat Pe is a QR Code based payment app for offline businessmen and retailers. The company is headquartered in New Delhi, but there are more than 5 offices across the country. Apart from interoperable QR Code for effortless UPI Payments, Bharat Pe also extends Bharat Swipe for card acceptance and small business financing. Also the company offers merchant loans.
- Ashneer Grover served as MD and Co-founder of Bharat Pe until he resigned from the company and relinquished his position on February 28, 2022. He was asked by the Bharat Pe board to take a voluntary absence for two months on January 19, 2022 due to financial fraud for which he was allegedly connected. This mandatory leave raised concerns for Ashneer Grover and his family. His wife Madhuri Jain Grover was also put to leave amidst government probe. Both husband and wife were later on terminated from their services due to financial irregulaties.
- The co-founder and MD was in media for a long time. This was not only because of the Bharat Pe issue, but also due to rude behavior of Ashneer in Shark Tank India Show and also call with Kotak Employee. Also there are many controversies which Ashneer denied , but he had to step down from Bharat Pe because misconduct was reported in double digit crores.There were reports which confirmed that Ashneer Grover had approached legal aid in the form of Karanjawala & Co a law firm from Delhi NCR, to secure his position in the company and keep his shareholding of 9.5% intact.
- The former MD then demanded Rs 4000 crore from the investors to buy him out, which implied that he needs to be paid a fair market value for his 9.5% stake in the company. He said “Either I will run the company or they buy me out; there is no third option”.
- Ashneer Grover’s arbitration pleas were rejected by the Singapore International Arbitration Centre and the Key investors turned down his offer of selling 9.5% stake in the company. Finally he had to leave the organization.
- According to the Bharat Pe Board the resignation of the Founder and MD came minutes after Mr.Ashneer Grover received Board Meeting Agenda which will include the PWC report submission containing the conduct of Mr.Ashneer and actions that will be taken against him. Mr.Ashneer Grover claimed that even though he has resigned he would continue to be single largest individual shareholder of the company.
Rise And Failure Of The Business Tycoon-Ashneer Grover
- All was well for Mr. Ashneer Grover. His appearance in Shark Tank made him Public Figure. But then suddenly, one audio clip was leaked in which Ashneer and his wife was allegedly abusing a Kotak Bank Employee for not being able to secure Nykaa IPO shares.
- Ashneer denied all the allegations and said that the audio was fake and the scamster is attempting to extort money from him blackmailing him with the fake audio clip.
- The audio clip was then deleted from all social media platforms, but Kotak Mahindra Bank said it would take legal actions against him. This was not enough when another controversy came up because of an email which was exchanged from August 2020 between Ashneer and Sequoia India’s Harshjit Sethi where Mr.Ashneer used abusive language against Harshjit Sethi. This effected his brand image and on 19th January 2022 he announced that he is taking voluntary leave till end of March.
- But the problems never ended for Mr. Ashneer. Just 10 days after this the board of BharatPe announced an independent audit in to company’s internal process and financials. The preliminary audit report detected fraud in the company in recruitment processes and detected payment to non-existent vendors.
- Madhuri Jain, the wife of Grover, also came under scrutiny for misappropriate use of funds to finance personal trips, beauty treatments, and to pay her personal staff at home.
- First, Grover filed an arbitration plea in the Singapore International Arbitration Centre to protect his 9.5% stake in the stake, amounting to 4000 crore Rupees. He said that he was being forced to exit the company with a much lower amount.
- But, on March 2nd, he resigned from his post of MD and board of directors of BharatPe via an email. He said that he was “vilified and treated in the most disgraceful manner” during the course of this investigation. He also accused the investors of treating the company’s founders like slaves.
- Ashneer Grover built a company valued at billions from the ground up in just three years. That is his excellence and his forte. However, his fall from such high has been quite cinematic and unfortunate, to say the least.
Ashneer’s Investments
| EasyRewardz (loyalty) | Recko (SaaS) |
| Egregore Labs (Trading Analytics) | Vested (Brokerage) |
| Atom Finance (Investing Tools) | Jupiter (NeoBanking) |
| LenDen Club (P2P NBFC) | LiquiLoans (P2P NBFC) |
| AngelList India (investing) | Rupifi (lending) |
| M2P (card issuance) | India Gold (gold loan) |
| Uni (consumer credit) | JUNIO (Payments for kids) |
| CredioGenics (Collection Saas) | MyHQ (co-working space) |
| Bira (alcobev) | Ash (alternative tobacco) |
| Nazara (gaming) | Park+ (Parking assistant) |
| Meddo (Primary Healthcare) | Vahan (Staffing) |
Business Lessons To Learn From Mr. Ashneer Grover
- The BharatPe Story includes Twists, claims and counter claims. Inspite of having successful founders with good track record , but ultimately it looks poor. The outcome is not so positive as it has destroyed the core value of the management, employees and the customers also.
- Ashneer Grover has performed incredibly well in building BharatPe. It is his sheer hardwork and talent that gave him success. Though he is rough and tough while taking decisions, but somewhere he failed in team work and that landed him up in trouble. He did not work with the Board Members.
- In todays world when media plays an very important role , Entrepreneur is a public icon and are role models for many. Mr.Ashneer Grover through his comments showed a lit amount of immaturity forgetting the fact that his own comments can create problems for him.
- No Doubt, Mr.Ashneer Grover is capable of creating value , scaling and building big and large companies. He believes that his next company will be a huge success. Well some people believe he is honest or some believe he is rude. But he believes that over valuing oneself is setting oneself for failure.
- Ashneer Grover has always adviced that if the product is good , then put money in to it, don’t go by the size, keep away from the secondary stocks, and be smart.
- Lastly when Ashneer Grover was asked about how he spends his free time , he replied “ I don’t party, I don’t read, all I know is how to grow your business and make money.”
Facts about Ashneer Grover
- He was awarded a scholarship of 6000 Euros from French Ambassy during his Graduation days (between 2002-2003).
- He has been an active investor before starting his business. He has invested in several industries such as fintech, health tech, gaming, alcobev etc. At presents, he has made his investments in around 22 startups.
- He was chosen as the first judge of Shark Tank India and his salary per episode is estimated to be Rs.
- Bharat Pe assigned various cricketers including Rohit Sharma, Suresh Raina, KL Rahul, Jaspreet Bumrah etc. as a brand ambassadors of the company in 2021.
- In 2021 he was also awarded Entrepreneur of the year
Latest News 2024
‘Shark Tank India Season 3’: Deepinder Goyal’s debut reminds netizens of Ashneer Grover as Zomato co-founder grills pitcher
‘Shark Tank India Season 3’ premiered with a fresh lineup of entrepreneurs, introducing 12 sharks, including the debut of Zomato CEO Deepinder Goyal. While the first episode showcased familiar faces like Amit Jain, Anupam Mittal, Vineeta Singh, Namita Thapar, and Aman Gupta, the subsequent episode marked Goyal’s entrance, leaving a lasting impression on viewers.
Goyal’s Debut Sparks Comparisons To Ashneer Grover
Goyal’s sharp questioning style and insightful remarks during pitches drew attention, with fans quick to draw comparisons to Ashneer Grover, the popular Shark who did not return for the second season. A sentiment echoed by a fan who referred to Goyal as the “new soft Ashneer Grover in Shark Tank India S3.” Social media buzzed with comments like “Deepinder Goyal is stealing the show” and “Yeh Shark toh danger hai (This Shark is dangerous),” expressing the audience’s positive reception to his debut.
In a recent episode, Goyal showcased his attention to detail during a pitch with gym owners. He pointed out a crucial flaw in their company ad, where the phone number displayed had 9 digits, and highlighted grammatical errors. Emphasising the importance of presentation on TV, he remarked, “Show your customer some love and respect.”
The Zomato co-founder’s approach also garnered praise, with one user stating, “Love Deepinder bro. He is better than Ashneer.” Another user drew parallels between Goyal and Peyush Bansal, noting, “Deepinder Goyal is the new Peyush Bansal. Both don’t like to invest less.” Such comparisons highlight the impact Goyal has made in his early appearances on the show.
Zomato Co-founder’s Background
Goyal, alongside his co-founder Pankaj Chaddah, founded Zomato in the year 2008, growing it into a global brand recognised for online food delivery and restaurant exploration services. His excitement about joining ‘Shark Tank India Season 3’ was evident in a tweet where he expressed a willingness to step outside his comfort zone and contribute unique perspectives.
As ‘Shark Tank India Season 3’ continues on SonyLiv, Deepinder Goyal’s presence adds a new dynamic to the show, keeping audiences engaged and drawing parallels to the charismatic Ashneer Grover.
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