From BMW bikes to Apple iPads to T20 World Cup in Dubai — BharatPe is trying hard to woo tech talent
- The aggressive hiring will help BharatPe to launch a slew of products in merchant as well as consumer lending space.
- It has announced a new policy to offer monetary and other incentives for both old and new joinees to attract more talent.
- BharatPe has also preponed tech team’s appraisals by eight months and the team has earned 75% increments.
Payments platform BharatPe is looking to grow its technology team by three times, as it plans to launch a slew of products in merchant as well as consumer lending space. The company will be looking to hire more than 100 employees for its tech team by March 2022.
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The company has also announced a first-of-its-kind ‘Referral & Joining Policy’, under which it will offer incentives to both new employees and the existing employees who refer fresh talent. These range between gadgets, appraisals and other perks.
TOP VIDEOS FOR YOUFor instance, all new tech team joinees will have the option to choose between bike or gadget packages. The Bike Package and Gadget Package is available to anyone referring tech talent to the company. This would include the BharatPe team as well as alumni of the company.
|Bike Package||BMW G310R, Jawa Parek, KTM Duke 390, KTM RC 390 and Royal Enfield Himalayan|
|Gadget Package||Apple iPad Pro (with Pencil), Bose Headphone, Harman Kardon Speaker, Samsung Galaxy Watch, WFH desk and chair, and Firefox Typhoon 27.5 D bicycle.|
BharatPe has also preponed the tech team’s appraisals by eight months and the team has earned 75% increments split between cost to company (CTC) and incremental employee stock ownership plan (ESOPs), effective July 1, 2021.
Besides this, the company will also host its entire Tech Team in Dubai for the International Cricket Council (ICC) Men’s T20 World Cup from October 17-November 14, 2021.
“BharatPe is a tech-first fintech [firm]. As we build the next generation of banking in India, we want to invite and excite the best tech talent to work with us on building market leading products at scale. We will, therefore, be taking the lead in tech talent compensation in India because that’s the only real investment our business needs given the capital efficiency of our model,” Ashneer Grover, co-founder and chief executive of BharatPe said.
Founded only three years ago by Grover and Shashvat Nakrani, BharatPe till now focused exclusively on merchant-payments and lending solutions. However, the hiring would also look into launching products focused on consumers. The company is also looking to aggressively build a loan book of ₹5,000 crore and has recently acquired the scam-hit Punjab and Maharashtra Co-operative (PMC) bank in a consortium with Centrum Financial services.
The company was valued at $900 million, after its $108 million Series D round led by Coatue Management in February 2021. The company’s investors include Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital.
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