BharatPe’s Ashneer Grover explains why he deleted his tweet

Bangalore: BharatPe co-founder and chief executive Ashneer Grover deleted his tweet in which he called a viral audio clip accusing him of thoughtless behavior as “bogus.”

The audio clip accused Grover of abusing and threatening to kill an

employee on margin financing for an initial public offering.

Grover tweeted Thursday that “a con artist” was trying to extort $ 240,000 in bitcoin from him using this clip.

Grover told ET on Saturday that since the audio clip was taken off Twitter and SoundCloud, he also deleted his tweet. There was no longer any point in keeping the tweet on his Twitter profile, he added.

In the tweet which has now been deleted, Grover said, “Folks. Coldness! This is FALSE audio of a scammer trying to extort funds ($ 240,000 in bitcoins). I refused to buckle up. I have more character. And the Internet has enough crooks :). ”

On Wednesday evening, an anonymous Twitter handle called “bongo babu” had set up a Soundcloud link to an audio clip allegedly of an argument involving Grover, his wife and a Kotak Mahindra Bank employee, which Grover allegedly launched swear words. for missing margin funding for Nykaa’s IPO. The audio clip has not been independently verified by ET.

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Margin financing, also known as IPO financing, is essentially a short-term loan made by certain lenders and brokers to high net worth individuals.

Last year, Grover said he planned to invest in India’s new tech and startup IPO brigade through Kotak Mahindra Bank. He had filed a personal claim for around Rs 105 crore during Zomato’s IPO, Grover said in an interview with CNBC TV-18.

The BharatPe co-founder has faced criticism from parts of the Indian startup ecosystem, after his remarks on the reality show Shark Tank India, where he is one of the panelists distributing personal investments. .

In an article last year, explaining how BharatPe partnered with NBFC Centrum Finance, 44, to acquire a banking license, ETtech said, citing sources, that the firm’s investors were not up to the task. comfortable with Grover’s “mercurial style” of leadership.

In August 2021, Grover became Managing Director of BharatPe, with the recent hire Suhail Sameer taking on the role of Managing Director.

Grover and BharatPe have also been embroiled in a public feud and legal battle over the ‘Pe’ suffix with rival PhonePe, owned by Flipkart.

BharatPe has been one of the well-funded fintechs in the Indian startup ecosystem and recently raised $ 370 million in its latest fundraiser led by New York-based Tiger Global. The deal nearly tripled its valuation to $ 2.85 billion.

The three-year-old New Delhi-based start-up, which recently partnered with Centrum to take over ailing PMC Bank, is actively seeking to double its consumer lending business through PostPe.

The company is now looking to further monetize through consumer products with the acquisition of the loyalty-based payment platform PayBack India and the launch of the peer-to-peer lending platform 12% Club.

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