Ashneer Grover was the managing director and co-founder of BharatPe before being compelled to leave and relinquish his duties in the business on February 28, 2022. In 2018, he and Shashvat Nakrani co-founded the company. They have transformed BharatPe into one of the most widely used payment apps in India in just four years. Ashneer Grover’s net worth is about 700 crore in Indian rupees.
Ashneer Grover got off to a good start in terms of his studies, career, and business, but he also ran into some hurdles.
On June 14, 1982, Ashneer Grover was born in Delhi, India. At the Indian Institute of Technology in Delhi, he earned a BTech in civil engineering. A graduate of the Indian Institute of Management in Ahmedabad, he also earned an MBA in finance. He has had positions with a number of businesses, including American Express, Grofers, PC Jeweller Ltd., and Kotak Investment Bank. In 2018, Ashneer Grover released the BharatPe app, which has received over 1 billion downloads on the Play Store. (rentalry.com) He is wed to businesswoman Madhuri Jain Grover. Ashneer Grover is currently one of the six judges on the well-known business reality show “Shark Tank India,” which is popular throughout India.
|Professional||Founder and Managing Director of BharatPe|
|Position||Ex-Founder and MD, BharatPe|
|Education||IIT Delhi and IIM Ahmedabad|
|Net worth||Rs 700 crore|
|Height||5 ft 7 in, or 170 cm|
|Weight||74 kg or 163 lbs|
Ashneer Grover celebrates his birthday every year on 14 June with his family. He is 41 years old as of 2023.
|Hair Colour||Grey Black|
|Ashneer Grover Age||41 years|
|Ashneer Grover Height||5 ft 7 in|
|Height in cm||170 cm|
|Ashneer Grover Weight||74 kg|
|Weight in lbs||163 lbs|
- In Delhi, Ashneer Grover finished his education. He finally graduated from the Indian Institute of Technology (IIT) with a B.Tech.
- He was chosen for a student exchange program with the National Institute of Applied Sciences, popularly known as INSA Lyon, in France, while a student at IIT Delhi. Europe’s largest engineering schools.
- With the aid of a €6,000 scholarship from the French Embassy, he relocated to INSA Lyon in 2002. Following his graduation from the IIT, Grover enrolled at the Indian Institute of Management (IIM) Ahmedabad to pursue his MBA in Finance. In 2006, he got his IIM degree.
- Despite having a background in investment banking, working for an MNC, serving as Chief Financial Officer, leading PC Jewellers, and launching BharatPe.
- Ashneer Grover was chosen by Kotak Finance Banking through campus placements from IIM to be the Vice President. He was working at Kotak since 2006, a span over seven years.
- In the middle of 2013, Ashneer began working for American Express (AmEx), a company that offers credit card services. Grover made investments in a number of well-known start-up businesses for the Indian card network when he was in government.
- While he was still employed by American Express, Grover made the Series B investment in MobiKwik. He was chosen to serve as AmEx’s Director of Corporate Development.
- Ashneer joined Grofers, a business founded by his IIT Delhi classmate Albinder Dhindsa, as its chief financial officer in 2015 after leaving American Express. Grover, however, left the company in 2017 because he was denied the ESOP options that had previously been presented to him. Blinkit is the company’s current name.
- Ashneer began working at PC Jeweller Ltd. Later that year, he was hired as the Head of New Business, a job he held for one year in total. Then, Ashneer Grover launched BharatPe, his own company, in 2018.
Ashneer was born in Delhi on June 14, 1982. His mother was a teacher, while his father was a chartered accountant. His parents both had successful careers, which contributed to the family’s success. He pursued his education at top institutions like IIT and IIM.
Madhuri Jain Grover and Ashneer Grover are husband and wife. She is a smart businesswoman and the owner of Mauve and Brown, a furniture company in Delhi. Before being listed as one of the employees suspected of financial fraud and later removed by the Board, Ashneer Grover’s wife, Madhuri Grover, handled HR, finance, and other internal operations at BharatPe. The couple had two children.
Madhuri Grover is Ashneer Grover’s wife. She runs her own business as well. She is responsible for overseeing all internal business processes at BharatPe, including finance and HR. Before joining BharatPe, she worked as an interior designer for companies like Satya Paul and Alok Industries. She also operated the furniture company Mauve and Brown on her own. Additionally, she has completed Madhuri Grover’s South Delhi home’s interior.
Madhuri Grover and Ashneer
Childrens: Since Ashneer didn’t have much money when he began BharatPe and required someone to oversee internal operations, Madhuri joined. Ashneer and Madhuri’s two children are Mannat Grover, 15, and Avy Grover, an 11-year-old boy.
Ashneer Grover BharatPe
● After acquiring 12 years of experience in various job positions Ashneer Grover chose to go into business. While taking care of business development and payments at PC Jeweler, he had the thought to launch a Payments firm. Ashneer Grover and Shashvat Nakrani, at last, collaborated to start BharatPe in 2018.
● Together, they improved the fintech company’s core services while building it from the ground up. BharatPe now supports transactions in digital gold, UPI payments, transaction QR codes, POS terminals for card payments, and an investing and funding app called 12% Club.
● Through Centrum Financial Services Ltd., they also received RBI authorization for financing small enterprises. Ashneer Grover pushed BharatPe to the top of the list of the most used payment services in the country by integrating many features.
● He was forced to quit, nonetheless, as a result of ongoing allegations against him, problems in his immediate environment, and financial irregularities tied to him that the company’s board discovered. On February 28, 2022, Ashneer Grover announced his resignation from BharatPe while claiming to be the largest individual shareholder in the business.
Ashneer Grover Resignation from BharatPe
Ashneer Grover requested emergency arbitration, however the Singapore International Arbitration Centre rejected his request. He was successful in convincing everyone that the board’s investigation was improper. Before leaving the company, Grover asked for his buyback, but the BharatPe investors turned him down. The agenda for the company’s board meeting on February 28, 2022, which would also discuss the PWC report on Grover’s behavior and the measures that were taken against him, was given to Ashneer Grover, according to the BharatPe Board.
Shark Tank’s Ashneer Grover
Ashneer is well recognized in the Indian business sector, but due to the well-liked reality television program Shark Tank, he is now well-known throughout India. The popular American corporate reality series “Shark Tank,” which debuted on Sony Liv on December 20, has a global edition. Ashneer, a shark investor who has joined the program, is investing in business concepts and ideas that spark his interest.
On June 16, 2022, there were indications that Ashneer Grover was looking for another company and would need to raise between $200 and $300 million for it. In order to get the required funding, the former co-founder and MD of BharatPe is currently in the US and in contact with family offices and other foreign private equity players.
Before finally selling any of his BharatPe stock or generating money by selling shares of the new company, Grover may also invest some of his personal money in the endeavor, according to sources. It was also reported that there are buyers for Grover’s 8.5% interest and that its present value is close to $3 billion. Ashneer Grover has not chosen which business or sector he will likely start with his new venture when he was last reported in June 2022.
Ashneer Grover wife Madhuri Jain Grover and he started the company on July 9, 2022, and it is currently known as Third Unicorn Pvt Ltd. How Ashneer Grover, a co-founder of BharatPe, makes and spends his money.
Funding for 22 Startups
Grover has always been an active investor, even before his huge, bold entrance on Shark Tank and the entire investing fiasco. Grover has touched a number of industries, including gaming, fintech, alcobev, health-tech, co-working, and staffing, in addition to investing in a fund that has also invested in his company (Bharat Pe). Here are all 22 of his venture capital investments that have increased his net worth:
All fintech investments
|Egregore Labs||Trading Analytics|
|Atom Finance||Investing Tools|
|Len Den Club||P2P NBFC|
|Liqui Loans||P2P NBFC|
|Angel List India||Investing|
|India Gold||Gold Loan|
|JUNIO||Payments for Kids|
|Credio Genics||Collection SaaS|
Investment in Startups from other Industries
Shark Tank Judge Ashneer Grover Image
Controversies faced by Ashneer
● In 2020, Paytm and other companies with a similar business model challenged Mr. Grover and BharatPe for spreading pamphlets, claiming that Paytm and those companies did not have their primary headquarters in India. Additionally, they requested that BharatPe be punished by the Reserve Bank of India.
● There was one more ruckus when PhonePe and BharatPe conflicted over the use of word “Pe” in their respective names. At later PhonePe has complained to the Delhi High Court in this matter. Later, the same was thrown away.
● Due to a recent audio tape that was shared on Twitter, Ashneer Grover got involved in a big scandal. Grover is charged with using abusive words and threatening behavior toward a Kotak employee in relation to the matter of failing to secure Nykaa’s IPO shares. He had to leave his work and take a temporary leave of absence for three months because of the audio issue. The board asked Ashneer Grover to leave the company permanently when the financial irregularities were found. Grover then said he was pleased to step down from his position at Bharat Pe, even if he will always be a founder and shareholder.
● When Ashneer Grover targeted Suhail Sameer strongly, the CEO of BharatPe was coming under increasing pressure from the company to resign. He claimed that Sameer over and over frightened him until he quit the organization. Grover has demanded for a huge exit payment of well than Rs. 4000 crores for leaving BharatPe
Ashneer Grover House – Soon after BharatPe saw enormous expansion, Grover made several significant deals, including a pricey home in Delhi’s Panchsheel Park. Given that a square foot of real estate in this area typically costs roughly Rs 18,000, Grover’s expansive home is at least worth Rs 30 crore. There are light beige accents all around the place, and the aesthetic value matches with lemon sofas and attractive artwork.
Ashneer Grover Net Worth
Grover’s net worth estimates are difficult to determine because of a wealth of false information on the internet, some of which mistakenly claim that Ashneer is the owner of BharatPe’s valuation of 21,300 crore. While his wrong answer of $90 million, or Rs 700 crore, is amazing enough to make him the richest person to participate on Shark Tank India, it would still make him one of the most successful business founders in history.
|Net Worth 2019||$65 Million, 6.5 Crore in Indian Rupees.|
|Net Worth 2020||$73 Million, 7.3 Crore in Indian Rupees.|
|Net Worth 2021||$82 Million, 8.2 Crore in Indian Rupees.|
|Net Worth 2022||$95 Million, 9.5 Crore in Indian Rupees.|
|Net Worth 2023||$108 Million, 10.8 Crore in Indian Rupees.|
The Mercedes-Maybach S650 owned by Ashneer. The vehicle is identified by the number plate ‘ASHNEER G.’ He also owns a Porsche Cayman, Audi A6, and Mercedes Benz GLS 350. Grover prefers white for his cars, as seen by his decision to cover his Merc, Audi, and Merc Maybach in this color. A Porsche Cayman, in addition to the luxurious saloons and SUVs, meets Grover’s car collection’s need for speed.
Frequently Asked Question
Who is Ashneer Grover?
Former co-founder and managing director (MD) of the Indian financial company BharatPe is the businessman Ashneer Grover from India.
What was the rank of Ashneer Grover in IIT?
At the Indian Institute of Technology, Delhi (IIT-Delhi), Ashneer got his undergraduate degree and earned department rank 2.
What does Ashneer Grover do for a living?
Ashneer Grover is an Entrepreneur.
How many kids does Ashneer Grover have?
Two kids, a girl named Mannat Grover and a son named Avy Grover, who is 11 years old.
What is Ashneer Grover’s net worth?
His net worth is reportedly between $600 million and $900 million.
What is the monthly income of Ashneer Grover?
Around 30 crore is Ashneer Grover’s monthly salary.
What is the net worth of BharatPe?
BharatPE has a valuation of 2.85 Billion.
How did Ashneer Grover make money?
BharatPe, a large portion of his money was acquired from savvy investments in strong up-and-coming businesses.
What is the business of Ashneer Grover?
He is an entrepreneur.
What companies has Ashneer Grover invested in?
Ashneer Grover invested in more than 24 companies.
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