So, What's Up With BharatPe?

yes, there's more

Oct 01, 2024

Happy Tuesday! Let’s keep the momentum going! Each step you take, no matter how small, brings you closer to your goals. Embrace the journey!

"Success is the sum of small efforts, repeated day in and day out"

Success often doesn’t come from one monumental effort but rather from many small victories. This aligns with the philosophy of continuous improvement, where regular, incremental changes lead to significant outcomes over time.

Emphasizing small efforts helps you build resilience. When you commit to daily tasks, you’re likely to encounter challenges. However, regular practice allows you to develop a growth mindset, making it easier to adapt and overcome obstacles.

By integrating these small efforts into your daily life, you can build a solid foundation for achieving your larger goals and aspirations.

Now, let’s get started…

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This is big news, especially since Ashneer Grover gained a lot of attention from his stint on the Indian version of Shark Tank. Under the new agreement, he will no longer have any connection with BharatPe, including shareholding.

So what’s actually happening? Grover will be transferring 1.4% of his shares to the BharatPe board, while the rest—about 3.5-3.7%—will go to a family trust. This effectively means he’s completely off the company’s cap table. Plus, he’ll be returning some shares to co-founder Bhavik Koladiya, helping to resolve earlier disputes over ownership. It looks like they’re tying up loose ends.

Interestingly, this settlement follows the arrest of Grover’s family member, Deepak Gupta, by the Economic Offences Wing (EOW) in Delhi. Gupta’s arrest stems from allegations of financial misappropriation involving BharatPe.

The company has accused Grover and his family of causing significant losses through various fraudulent activities, amounting to around Rs 81.3 crore. Yikes! This includes claims of fake payments and even the destruction of evidence.

What is Ashneer Grover doing nowadays?

After leaving BharatPe, he and his wife, Madhuri Jain Grover, teamed up with entrepreneur Aseem Ghavri to establish Third Unicorn.

So, what’s ZeroPe all about?

It’s designed to provide instant, pre-approved medical loans of up to ₹5 lakh to help cover medical expenses. The application is currently in testing mode and once launched, users will be able to access these loans at partnered hospitals.

The process is pretty straightforward—after completing a KYC (Know Your Customer) verification, which involves providing basic documents like your Aadhaar card and PAN number, you can choose a healthcare facility and enter the loan amount you need.

One of the standout features of ZeroPe is that it allows customers to keep track of their upcoming EMIs (Equated Monthly Installments) and payments.

Plus, there's good news for borrowers: you can repay your loan early without any additional fees! This could be a game-changer for many people who want more flexibility in managing their medical expenses.

ZeroPe isn’t the only player in the growing field of medical financing. It’s joining a host of companies like SaveIn, Qube Health, and Arogya Finance, all of which are catering to the rising demand for quick financial solutions in the healthcare sector.

So, if you or someone you know has been looking for a way to finance medical expenses without the usual headaches, ZeroPe might just be worth keeping an eye on.