Ashneer Grover

Ashneer went to IIM Ahmedabad for his post-graduate studies. He completed his Master's in Business Administration from the Indian Institute of Management, Ahmedabad. He got post graduated in 2006.

Marriage

Ashneer Grover was married to Madhuri Jain Grover in 2006.

Ashneer's Wife: A Supporting Hand Through-out His Career

Ashneer tied knots with Madhuri Jain. Mrs. Madhuri Jain Grover is a graduate of NIFT-Delhi. Madhuri worked with a strong profile with many brands. One of them is Satya Paul. Her internship was done in Satya Paul. It was a big name to start with. Madhuri has a total of 13 years of work experience. With time, Madhuri has reached high profiles like Senior Designer and Empaneled Designer. She is also an entrepreneur. When Ashneer wanted to start BharatPe, Madhuri realized that her husband required her support.

Madhuri has always helped Ashneer with business; she was there to help him with the operations of their startup. She made sure that functionality at the startup was going smoothly, and that their venture into a leadership role was running progressively. Madhuri was positioned as the head of control at BharatPe. Since the foundation of BharatPe Madhuri took the responsibility of administrative and procurement departments.

A Complete Family

After the marriage of Ashneer Grover and Madhuri Jain Grover in 2006, the couple was blessed with two children. They have one son and a daughter. Their son is older than his sister. Madhuri also engaged in the role of the Head of Controls at BharatPe. A glimpse of this beautiful family living together is provided on the Instagram profiles of Ashneer and Madhuri.

About BharatPe

BharatPe, as a company, is a fintech body. BharatPe is India's first of its kind. It provided a UPI QR code, which is unified in version and manner. At one level of time, the nation's largest provider of unified UPI was BharatPe. The company was founded with the combined collaboration of Asneer Grover, Shashvat Nakrani, and Bhavik Koladiya. They laid its foundation in 2018. It is headquartered in New Delhi. It is very similar to PhonePe, Paytm, GPay, and other such digital payment channels.

Career

Ashneer's career had a journey of 13 years. It took him more than a decade to make his dreams come true. His journey was a diverse one. He had multiple intriguing professions.

Even before the stablishment of BharatPe, Ashneer has been a part of a number of firms. Ashneer continued to work in certain organizations, including Kotak Investment Bank, Grofers, PC Jeweler Ltd, and American Express.

Ashneer Grover became the VP of Kotak Mahindra Bank. It was his first job. He next joined other organizations like Yes Bank and Paytm. He earned a handful of skills as well as experience from them. Ashneer Grover's net worth was also enhanced by working for these companies.

Ashneer's journey started with Kotak Investment Bank. He spent a total of seven years at Kotak Investment Bank. Before BharatPe, Ashneer even tried to build a Gold loan business of the new age. It was for PC Jewelers. Prior to this, Ashneer was CFO of Grofers. He was the founding team member there. Mr. Grover was also an investor for Amex in India. He was a part of Amex's India Board.

Let us look in detail at each of these roles played by Ashneer at different firms that have been an important part of his journey:

As an Investment Banker

Ashneer Grover got the opportunity to work as a vice president in Kotak Investment Banking. His excellence in academics helped him to get this chance. He was offered this position immediately after finishing his graduation in 2006. Since he did an MBA in Finance, he was suitable for this post. As an investment banker, he had to work on various types of IPO deals. He worked in that position for seven years. He finally left his role as vice president in 2013.

As an MNC Employee

Ashneer became the Director of corporate in the office of American Express in May 2013. He was now eager to explore new things, and this made him decide to leave the position of Director as well. He invested 2 years of his career in the organization and finally went to join Grofers.

As a Chief Financial Officer

Ashneer joined Grofers in March 2015. Ashneer was designated as CFO- Chief Financial Officer. After two years of service as a CFO, Ashneer decided to leave the company. In August 2017, Ashneer finally left from there.

From Grofers, Ashneer decided to take a break. He utilized this time to meet with various investors. He made new, productive connections.

As the Head of PC Jewelers

After Grofers, Ashneer joined PC Jewelers. He was made Business Head there in November 2017. His role was to help the company in developing new payment strategies. He was to take other options that would be productive and could help with the overall growth and development of the business. In October 2018, Ashneer resigned from the position of Head of Business.

As the CEO of BharatPe,

Ashneer Grover's leadership made it possible for BharatPe to grow as a successful financial technology company in the market of digital payments. It is ultimately a fintech app of the Indian transition space that supports digital payments. This company acquired a total of 10% of overall UPI merchant payments in India. The time required to acquire the trust and adaptation of UPI merchants was just a short span of 6 months.

Ashneer's vision behind the foundation of BharatPe was his motive to enable the UPI ecosystem in India. He wanted to achieve this goal. To make it, Ashneer made merchants realize the importance of his service and made the driving force for adaption among merchants. BharatPe offers UPI transactions for free to around 6 lakh merchants throughout India.

BharatPe is spread to 100 cities as per a BusinessIndia.co report published in April 2021. It has a merchant base of over six million merchants. BharatPe, as a fintech, won the Emerging Company of the Year award in 2021.

Resignation from BharatPe

Ashneer Grover resigned from the position of MD. He wanted to be something other than a member of the board of directors. He left the position after receiving the next board meeting's agenda. He decided to resign as the submission of the PWC report was to be made. The report will be regarding his performance. The report also contains the actions that were the result of Ashneer's conduct at BharatPe. The board of BharatPe has the right to take action based on the report's findings as per their set of terms and conditions and agreement statements.

On February 8, 2022, Ashneer Grover finally resigned as MD. He often left the position of being one of the company's board directors. As per the company, Mr. Grover gave his resignation a short time after the PwC audit report came, and the agenda for the board meeting based on the report was distributed.

As a Shark Tank Judge

Shark Tank India was aired in 2021 with its first season. Ashneer made it up to the position of a judge on the television show. In the first season, Ashneer was there as an investor. He was one of the eleven sharks of that season. Anupam Mittal, Namita Thapar, Vineeta Singh, Aman Gupta, Peyush Bansal, and Ghazal Alagh were the other six sharks.

This show was a reality show that was all about different entrepreneurs coming up with their business ideas with the hope that one or more of the sharks would invest their money in the venture presented by these participants. In the first season only, Ashneer invested in as many as 55 startups. These included startups like OTO Capital, The Whole Truth, India Gold, and Front Row in this reality show.

Let us look at Asneer's detailed journey on the show:

• Ashneer was more inclined towards the business ideas startups that are formed as a result of solutions to the problems faced by small businesses in India. Grover's expertise impressed everyone; people were astonished by his business success and knowledge of the industry.
• He was known for being tough but fair in his evaluations of the pitches. Grover has queries of pointed questions. He wanted to hear about the fundamentals of the business strategies and models. His feedback was important and informative for the entrepreneurs.
• Grover's presence on the show helped to bring attention to the fintech industry. He enhanced the potential for startups in this space.
• Ashneer has shown the importance of customer acquisition strategies, scalability, and revenue models.
• He was known for his blunt and outspoken attitude, which often led to conflicts with other sharks and entrepreneurs.
• He invested in 12 startups out of 67 deals, with a total amount of Rs. 9.5 crores. His notable investments included BluePine Industries, Revamp Moto, Skippi Pops, and Raising Superstars.
• These investments have helped to increase Ashneer Grover's net worth. Ashneer was not a part of season 2 of Shark Tank India. This was because of some disagreements between him and the production.
• After the show ended, he also unfollowed all the other sharks on social media. Grover's time on Shark Tank India was a positive contribution to the show and the broader startup- ecosystem in India.

Kotak Mahindra Bank Controversy

Ashneer was a former employee of the Kotak Mahindra Bank. He recently landed in controversy for allegedly using inappropriate language against a staff member. Both Ashneer and his wife, Madhuri Grover, were found sending a legal notice to

Kotak Mahindra Bank's MD and CEO, Uday Kotak. A number of Ashneer's senior management accused the Kotak bank. The accusations were made about the failure of the Bank to secure financing and allocation of shares in an IPO launched by beauty firm Nykaa. As a result of this notice, Grover and his wife sought damages for the gains. They lost around Rs 500 crore in the company that they would have made after subscribing to worthy shares. Rs 1 lakh was also fined as the cost of the legal notice.

Ashneer Grover's Net Worth

Awards and Achievements

Ashneer Grover is no less than a role model for upcoming entrepreneurs. His work has been acknowledged at national and international stages. Some of the awards received by Ashneer for his exceptional performance as a sensational businessman are listed below:

Ashneer Grover is the owner of an estimated net worth of $107 million. If converted to Indian rupees, his net worth comes to Rs. 790 crores approximately.

1. Ashneer was also honored with the Young Achiever Award in January 2021,
2. Following the same year, Ashneer Grover won the Entrepreneur of the Year award.
3. Ashneer also received a Rs. 5 lakh scholarship. He got this from the French Embassy. He was given it for his excellence and good performance there.
4. Ashneer Grover was ranked in the under 40 Fortune India list of India's brightest young business minds in 2021. 2021 proved to be a lucky year full of acknowledgments for Ashneer.