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<keyword id="19956322" type="General" weightage="20" keywordseo="BharatPe" source="keywords" meta.keywordsubtype="org" meta.entityname="BharatPe" meta.hostid="83" meta.entityid="BharatPe">BharatPe</keyword> Group and <keyword id="19993869" type="General" weightage="20" keywordseo="PhonePe" source="keywords" meta.keywordsubtype="org" meta.entityname="PhonePe" meta.hostid="83" meta.entityid="PhonePe">PhonePe</keyword> Group have amicably settled all long-standing legal disputes pertaining to the use of the trademark with the suffix 'Pe', a joint statement read. Both companies had been involved in long-drawn legal disputes across multiple courts, over the past five years. "The settlement will put an end to all open judicial proceedings," the joint statement dated May 26 read. As a next step, they have already taken steps to withdraw all oppositions against each other in the trademark registry which will help them to proceed with the registration of their respective marks. Further, both organizations will undertake other necessary steps to comply with the obligations under the settlement agreement in respect of all cases before the <keyword id="19895875" type="General" weightage="20" keywordseo="Delhi-High-Court" source="keywords">Delhi High Court</keyword> and <keyword id="19905533" type="General" weightage="20" keywordseo="Bombay-High-Court" source="keywords">Bombay High Court</keyword>, the statement said. <keyword id="19956324" type="General" weightage="20" keywordseo="rajnish-kumar" source="keywords">Rajnish Kumar</keyword>, Chairman of the Board, of BharatPe, said, "This is a positive development for the industry. I appreciate the maturity and professionalism shown by the Management of both sides, working closely to resolve all outstanding legal issues and moving ahead to focus their energy and resources in building robust digital payment ecosystems.'' Sameer Nigam, Founder and CEO of PhonePe, said, ''I am glad that we have reached an amicable resolution in this matter. This outcome will benefit both companies to move forward and focus our collective energy on growing the Indian fintech industry as a whole. I would like to thank Mr Rajnish Kumar and his team for working with us to get to this positive outcome." BharatPe, the brand name of Resilient Innovations Pvt Ltd, was founded in 2018. Currently with a registered network of over 1.3 crore merchants across 450+ cities, the company is one of the leading players in UPI offline transactions, processing 370 million+ UPI transactions per month. PhonePe Group is also India's leading fintech company. Its flagship product, the PhonePe digital payments app, was launched in August 2016. In seven years, the company has scaled rapidly to become India's leading consumer payments app with 535+ million registered users and a digital payments acceptance network of 39+ million merchants. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/poco-f6-vs-realme-gt-6t-which-mid-range-smartphone-should-you-buy/slidelist/110388110.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/poco-f6-vs-realme-gt-6t-which-mid-range-smartphone-should-you-buy/slidelist/110388110.cms" target="_blank">Poco F6 vs Realme GT 6T – which mid-range smartphone should you buy?</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6t-vs-motorola-edge-50-pro-price-specs-and-features-compared/slidelist/110366047.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6t-vs-motorola-edge-50-pro-price-specs-and-features-compared/slidelist/110366047.cms" target="_blank">Realme GT 6T vs Motorola Edge 50 Pro – price, specs and features compared</a><a href="https://www.businessinsider.in/tech/news/indias-wearable-shipments-rise-by-2-1-in-q1-2024-average-price-declines/articleshow/110354913.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearable-shipments-rise-by-2-1-in-q1-2024-average-price-declines/articleshow/110354913.cms" target="_blank">India’s wearable shipments rise by 2.1% in Q1 2024, average price declines</a>

BharatPe and PhonePe amicably settle all trademark disputes over 'Pe' suffix

Fintech platform <keyword id="7349800" type="General" weightage="100" keywordseo="bharatpe" source="Orion">BharatPe</keyword> on Wednesday said it has appointed former SBI <keyword id="14627699" type="General" weightage="50" keywordseo="card-cfo" source="Orion">Card CFO</keyword> <keyword id="13810597" type="General" weightage="50" keywordseo="nalin-negi" source="Orion">Nalin Negi</keyword> as its new chief financial officer, as it prepares for its initial public offering (IPO). In his new role, <keyword id="4151" type="General" weightage="80" keywordseo="negi" source="Orion">Negi</keyword> will take charge of the finance function for BharatPe and will be working towards making the company EBITDA positive by March 2023. He will report to <keyword id="4534514" type="General" weightage="50" keywordseo="suhail-sameer" source="Orion">Suhail Sameer</keyword>, CEO, BharatPe and work closely with the <keyword id="14627700" type="General" weightage="50" keywordseo="board-of-bharatpe" source="Orion">Board of BharatPe</keyword>, the company said in a statement. "His experience of listing SBI Card will be instrumental for us as we aim to go public in FY25," said Sameer. BharatPe closed the first quarter of FY23 with over Rs 3,600 crore in total loans facilitated and $18 billion in annualised TPV in payments. "The company has become a preferred and trusted partner for millions of offline merchants in just 4 years of launch," said Negi, who will lead the financial readiness of the company as it prepares for the IPO. In April, the company announced the appointment of <keyword id="10012165" type="General" weightage="50" keywordseo="smriti-handa" source="Orion">Smriti Handa</keyword> as the Chief Human Resources Officer. The new appointment comes after BharatPe Co-founder Bhavik Koladiya moved on from the company to pursue other assignments. The company has seen several high-profile exits in recent months, including <keyword id="2988161" type="General" weightage="50" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword> (who triggered a major controversy at the platform); Chief Revenue Officer Nishit Sharma; and Head of Institutional Debt Partnerships, Chandrima Dhar. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/asus-unveils-a-new-lineup-of-laptops-featuring-zenbook-14-flip-oled-and-vivobook-s14-at-starting-price-of-49990/articleshow/93322315.cms">ASUS unveils a new lineup of laptops featuring Zenbook 14 Flip OLED and Vivobook S14 at a starting price of ₹49,990</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/aditya-birla-capitals-net-profit-jumps-42-to-429-crore/articleshow/93322293.cms">Aditya Birla Capital's net profit jumps 42% to ₹429 crore</a>

IPO-bound BharatPe appoints new CFO amid high-profile exits

'<keyword id="1417364" type="General" weightage="20" keywordseo="Shark-Tank" source="Orion">Shark Tank</keyword> India 2' judge and <keyword id="12758425" type="General" weightage="20" keywordseo="shaadi-com" source="Orion">Shaadi.com</keyword> founder <keyword id="127971" type="General" weightage="80" keywordseo="anupam-mittal" source="Orion">Anupam Mittal</keyword> said that it is never justified to humiliate anyone for their business idea even if it doesn't sound appealing. Without taking any name he pointed toward the <keyword id="7349800" type="General" weightage="50" keywordseo="bharatpe" source="Orion">BharatPe</keyword> founder Ashneer Grover, who once on the show asked an entrepreneur to make a mop of the clothes she was selling as they were not up to the mark according to him. However, <keyword id="2288" type="General" weightage="100" keywordseo="anupam" source="Orion">Anupam</keyword> asserted that there is a proper way to criticise someone and one cannot insult anyone in a rude manner. He also added that this won't be happening in the second season of the show. In an interview given to Film Companion, he said: "I'm not going to talk about specific sharks but as a team, we gave a lot of leeway to people in a lot of pitches last year. This year, you might see that change a little bit." He added that giving suggestions is one thing but humiliating a person is altogether a different matter and even if the person is presenting a business idea that is not so good, it is not going to make the person 'bad'. He added: "I think there is a difference between being critical and insulting someone. You might have a bad idea or a bad business or a terrible business plan but that doesn't make you a bad person." "So I, and I think everybody, draws a line at criticising your business and your idea and your plan and to give you a reality check and to show you the mirror because this is season two. Humiliating somebody is not acceptable and anybody who does that does not deserve a seat on 'Shark Tank'," he concluded. 'Shark Tank 2' is starting from January 2 on <keyword id="11908357" type="General" weightage="50" keywordseo="sony-entertainment-television" source="Orion">Sony Entertainment Television</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shilpa-shetty-kunal-bahl-promoters-to-sell-stake-as-mamaearth-parent-goes-in-for-an-ipo/articleshow/96594970.cms">Shilpa Shetty, Kunal Bahl, promoters to sell stake as Mamaearth parent goes in for an IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/mukesh-ambanis-son-anant-ambani-engaged-to-radhika-merchant-in-rajasthan/articleshow/96598326.cms">Mukesh Ambani's son Anant Ambani engaged to Radhika Merchant in Rajasthan</a>

Humiliating somebody will not be tolerated in Shark Tank says Shaadi.com founder Anupam Mittal

<ul><li><keyword id="7349800" type="UNKNOWN" weightage="20" keywordseo="bharatpe">BharatPe</keyword> plans to substantially scale up its presence by adding another 30 cities to its list by December 2020. </li><li>The cities, spread across India, include <keyword id="6730905" type="UNKNOWN" weightage="20" keywordseo="tier-1-cities">tier-1 cities</keyword> like Kolkata and Chennai, emerging cities like Coimbatore, Kochi, Dehradun, Nagpur, Bhubaneswar, Patna as well as tourist hubs like Amritsar, Varanasi, Agra, Allahabad, amongst others. </li><li>The company aims to add another 3 million merchants to its existing list of over 5 million merchants by the end of FY 21.</li></ul><keyword id="9492517" type="UNKNOWN" weightage="20" keywordseo="merchant-payment">Merchant payment</keyword> company BharatPe has announced its aggressive expansion plans across tier-1, 2 and 3 cities in the country. The company, that is currently present in 35+ cities, plans to substantially scale up its presence by adding another 30 cities to its list by December 2020. The cities, spread across India, include tier-1 cities like Kolkata and Chennai, emerging cities like Coimbatore, Kochi, Dehradun, Nagpur, Bhubaneswar, Patna as well as tourist hubs like Amritsar, Varanasi, Agra, Allahabad, amongst others. The company aims to add another 3 million merchants to its existing list of over 5 million merchants by the end of FY 21. The announcement is in line with the company’s commitment to become the preferred financial services partner for over 60 million SMEs (Small and Medium Enterprises) in India. The company will be rolling out it’s one-of-a-kind interoperable UPI QR with zero transaction fees, and it’s recently launched zero rental, zero fees card acceptance machine (BharatSwipe) in the new cities. Additionally, BharatPe would be offering attractive collateral-free loans of upto Rs 7 lakhs at competitive interest rates to merchants, with the objective of helping them grow their business. BharatPe will offer its hybrid repayment model with a combination of daily QR/ POS collection and weekly payments made directly from the bank account to the merchants availing loans. Speaking on the expansion, <keyword id="4534514" type="PERSON" weightage="20" keywordseo="Suhail-Sameer">Suhail Sameer</keyword>, Group President, BharatPe, said, “The pandemic has fuelled exponential growth of digital payments industry in the country as a large number of customers are opting for cashless payments. We have seen our business grow manifold over the last few months. Our payments vertical has recorded consistent double digit growth on a month-on- month basis. Also, our lending vertical has scaled very well and we are on track to disburse loans of Rs 1000 crores by the end of the year.” Added Suhail, “We are committed to create a well-rounded financial ecosystem for SMEs with our variety of products including payments, loans, gold and insurance. This decision to double our footprint in the country is in line with this. We have handpicked cities that are either business hubs or emerging commercial centres, for this phase of expansion. We look forward to enabling millions of more businesses in the new cities we are venturing in.” BharatPe will be rolling out its range of financial services for merchants, across all the new cities. These include Amritsar, Kota, Guntur, Kakinada, Rajmundri, Jodhpur, Coimbatore, Madurai, Nagpur, Kochi, Trichy, Raipur, Trivandrum, Bilaspur, Durg Bhilai, Gwalior, Jabalpur, Kolkata, Patna, Ranchi, Bhubaneswar, Guwahati, Jamshedpur, Chennai, Agra, Allahabad, Aurangabad, Dehradun, Patiala, Rohtak, Silchar, Agartala, Shillong and Varanasi.

BharatPe to add another 3 million merchants to its existing list of over 5 million merchants by the end of FY21

Leaving the <keyword id="2988161" type="General" weightage="80" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword> controversy behind, fintech platform <keyword id="7349800" type="General" weightage="80" keywordseo="bharatpe" source="Orion">BharatPe</keyword> has closed one of the highest growth quarters in its history, facilitating over Rs 3,600 crore in loans in the first quarter (April-June period) of FY23. This is a growth of 112 per cent over the last quarter. BharatPe said it also reached an all-time high of $18.5 billion in annualised total payment value (TPV) -- a growth of 50 per cent over the last quarter. "Post a successful FY22 that we closed with a 3 times growth in merchant loans, 2.5 times growth in payments and a 4 times jump in revenue, BharatPe has recorded its' best ever quarter in Q1, FY23," said <keyword id="4534514" type="General" weightage="50" keywordseo="suhail-sameer" source="Orion">Suhail Sameer</keyword>, CEO, BharatPe. "We are on an incredible growth journey, driven by a huge shift in behaviour towards digital payment modes, rise of <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> and the increased acceptance of new-age fintech products," he added. The company facilitated disbursals to over 1.2 lakh merchants in Q1, FY23, up from 66,000 merchants in the last quarter of FY22. Additionally, BharatPe's other product offerings, including the card acceptance POS businesses (BharatSwipe) and its investment platform for merchants recorded consistent growth (over 30 per cent) compared to the last quarter. "We are on track to achieve our target of $2 billion in loans facilitated (through our NBFC/bank partners) across both consumer and merchant business by the end of FY23 as well as scaling TPV to $30 billion by March 2023," said Sameer. The company saw its biggest-ever controversy starting earlier this year when its Co-founder and CEO <keyword id="12917061" type="General" weightage="100" keywordseo="ashneer" source="Orion">Ashneer</keyword> and his wife <keyword id="13057738" type="General" weightage="50" keywordseo="madhuri-jain-grover" source="Orion">Madhuri Jain Grover</keyword> siphoned off funds worth crores and were later sacked by the company.

You Searched For "bharatpe merchant" and got 5 results

BharatPe and PhonePe amicably settle all trademark disputes over 'Pe' suffix

ANI

IPO-bound BharatPe appoints new CFO amid high-profile exits

IANS

Humiliating somebody will not be tolerated in Shark Tank says Shaadi.com founder Anupam Mittal

IANS

BharatPe to add another 3 million merchants to its existing list of over 5 million merchants by the end of FY21

BI India Partner

BharatPe is doing just fine after Ashneer Grover's exit, records 112% growth

IANS

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