Ashneer Grover Net Worth, Biography, Age, Income & More

Ashneer Grover is a prominent figure in the Indian fintech industry, known for his dynamic leadership and entrepreneurial spirit. Grover, co-founder of BharatPe, has significantly impacted the financial sector. In this article, we’ll explore Ashneer Grover’s net worth, salary, income, age, wife, and biography. Discover the journey of this influential entrepreneur and his rise to success.

Ashneer Growner’s Net Worth 

The estimated net worth of Ashneer Grover is $108 million, which makes him one of the richest sharks on the famous Shark Tank India television show. Ashneer founded Bharat Pay, a top-rated fintech company in India. His business acumen, impeccable career, and track record of scaling multiple businesses, like Blinket,.

His years of experience in finance and entrepreneurship have significantly contributed to Asheer Grover’s net worth. Prior to exploring the entrepreneurship journey, Asheer worked with some of the top banks in India, including Citibank, Yes Bank, and Kotak Mahindra Bank, with a handsome salary in hand. 

Ashneer Grover Net Worth in Indian Rupees

Asheneer Grover’s net worth in India is INR 790 crore, which makes him the richest shark in Shark Tank India. He is the one who completely revolutionized the online and mobile payment systems in India by founding Bharat Pay Company and introducing the bar code scanner payment method in India. Besides, he is also accredited with scaling billion-dollar startup companies in India like Blinket [earlier known as Grofers]. 

His sheer dedication to business, straight-forward nature, and sharp mind have made him one of the richest CEOs and businessmen in India. 

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Ashneer Grover Income Sources

1. Social media sponsorships

Ashneer Grover is a famous personality in India with a lot of influence on social media and a good number of fan followers on Instagram, Twitter, and Facebook, making him one of the most followed entrepreneurs on Instagram in India. Asheer, in an event, openly admitted that he earned more money as an influencer on social media than he made as the CEO of Bharat Pay. 

Ashneer, during his interaction session talk at Ghaziabad’s Institute of Management and Technology, said, “These days, most entrepreneurs are turning into influencers. I see a lot of similarities between you and Ankur Warikoo. Do entrepreneurs start thinking that being famous is important?” As the crowd chuckled, Ashneer said in Hindi, “I’ve never heard a more offensive statement.”

On Instagram, most of the videos and reels of Asheer Grover get around millions of views. And he has decent followers—1.5 million. So, in my opinion, he might be getting INR 20 lakhs to INR 30 lakhs per reel or video on Instagram as a sponsorship post. 

2. CEO of Bharat Pay

Ashneer Grover was also the founder and CEO of India’s top-rated fintech company, Bharat Pay. During his tenure at Bharat Pay, Ashneer Grover was paid INR 1.69 crore during the fiscal year 2021-2022 and INR 1.35 crore in the fiscal year 2020-2021. His wife, Madhuri, who was part of the finance team and handled the major financial operations, was also paid INR 63 lakhs during the same period. 

3. Business investments

Ashneer Grover, co-founder and former managing director of BharatPe, has made several business investments over the years. His investment portfolio includes a mix of startups across various industries. Here are some notable investments:

A. The Whole Truth is a clean-label food brand focusing on healthy, transparent ingredients.

B. IndiaGold is a startup offering gold-based loans and savings products.

C. Finbox is a fintech company providing credit infrastructure to businesses.

D. KreditBee is an online lending platform providing personal loans to young professionals.

E. Jupiter is a digital banking platform aimed at simplifying financial management for millennials.

F. Fleek is a subscription management platform that helps users manage and optimize their recurring payments.

These investments reflect his interest in fintech, consumer goods, and technology-driven businesses.

4. Appearances and events

Ashneer Grover was one of the judges (or “sharks”) on the Indian adaptation of the popular show “Shark Tank.” For his role on “Shark Tank India,” he reportedly earned around INR 10 lakh per episode. The show’s format involves entrepreneurs pitching their business ideas to a panel of investors, who decide whether to invest in the companies. Grover’s presence on the show brought significant attention due to his experience and success in the business world, particularly in fintech.

Besides Shark Tank India, Ahsneer Grover also charges for appearances on other paid events, television shows, and web series, which has significantly contributed to his income and net worth. He has been part of some of the most popular TV shows, like MTV Roadies, and web series, like Picthers Season 2 by TVF. [The Viral Fever]

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Who is Asheer Grover [the richest shark in Shart Tank India]?

Ashneer Grover is an Indian entrepreneur, known for co-founding Bhart Pay, India’s best and biggest fintech company. He was also the MD and CEO of Bharat Pay, and during his tenure, he took the company to new heights and introduced the barcode scanner payment system in India. He is best known for his remarkable contributions to the Indian fintech industry and was also listed in Forbes 30 under Aisia 2020 for Retail and Ecommerce.

Speaking about his early days, Ashneer was born on June 14, 1982, and hails from a Punjabi family, with his father being a qualified chartered accountant and his mother being a teacher. Growing up in Delhi, Ashneer was nerdy and studious from their early childhood days. He completed his B.Tech. in civil engineering from the reputed Indian Institute of Technology, Delhi. 

He also completed his MBA from the Indian Institute of Management Ahmedabad in 2006. Speaking about his professional career, he started working in the finance and banking sector, serving in various of India’s top banks like Kotak Mahindra and HDFC Bank, where his key responsibilities involved risk and credit analysis. 

He later leveraged his banking and finance knowledge in his entrepreneurial journey. The turning point in his career came when he co-founded BhartPe with Shashvat Nakrani in 2018. This startup aimed at revolutionizing India’s digital payment system by offering QR code scanner payment systems to small and midsize businesses. 

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Ashneer Grover Biography In Table

Ashneer Growner Education Qualification

Ashneer Grover has a notable educational background that laid the foundation for his entrepreneurial success. He completed his Bachelor of Technology (B.Tech) in Civil Engineering from the Indian Institute of Technology (IIT) Delhi, one of India’s premier engineering institutions. After his undergraduate studies, he pursued an MBA from the Indian Institute of Management (IIM) in Ahmedabad, another top-tier institution in India known for its business and management programs. This combination of engineering and business education equipped Grover with the technical knowledge and managerial skills necessary to navigate the complexities of the startup world and co-found BharatPe.

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Ashneer Grover’s career highlights

Ashneer Grover Controversy: The Full Story Behind His Exit from BharatPe

Ashneer Grover is the co-founder and former Managing Director at BharatPe, a much-admired Indian fintech company that was in news in 2022 when controversy erupted regarding his resignation in the wake of allegations of mismanagement, malpractice, and internal conflict with other leaders of the company.

Here is a detailed breakdown of the controversy:

Controversy Breakdown

Ashneer Grover is also the co-founder of BharatPe, which began its operations in 2018 and, within a short period of time, morphed into one of the Indian fintech companies. BharatPe dealt mainly in QR code-based payments, lending, and other digital financial services to small merchants and businesses.

Grover managed BharatPe so well that the company has now become one of those that raised millions of dollars for itself and is counted as a unicorn with a valuation over $2.8 billion.

Beginning of the Controversy

The controversy begins from January 2022 when an audio clip went viral on social media, in which Ashneer Grover was allegedly heard abusing a Kotak Mahindra Bank employee because the latter failed to successfully secure funding for the purchase of shares in Nykaa’s IPO (Initial Public Offering). In the audio clip, Grover could be heard uttering abusive words and making aggressive remarks.

Although Grover dismissed the clip as fake and doctored initially, he took a leave of absence from BharatPe after it went viral. Grover along with his wife, Madhuri Jain Grover (who was also an executive at BharatPe), were locked into this controversy.

An internal investigation into BharatPe

The board at BharatPe sought an internal probe into Grover’s actions and other reported financial impropriety in the company. It brought in independent auditors and law firms to find out why and how things went wrong – be it financial impropriety or toxic work culture, among others.
Some of the alleged issues are:

Financial Misappropriation: The complainant also alleged Grover and his family had misappropriated funds appropriated from the company, passed inflated expenses, carried out fraudulent practices, and even manufactured fake vendors to siphon off money.

Misconduct & Hostile Behavior: Grover was also accused of creating a hostile workplace with his abrasive hostile behavior towards employees, investors, and partners.

Role of Madhuri Jain Grover

Financial impropriety was also leveled against the purse controller of BharatPe, the wife of Grover – Madhuri Jain Grover. She was found guilty of record book entry tampering, a case of exaggerated cost-cutting. Madhuri Jain was relieved of her position within the company in February of 2022.

Ashneer Grover’s Resignation

Under extreme pressure from the board, investors, and the findings of an internal probe, Grover resigned as a Managing Director at BharatPe on March 1, 2022. In his resignation letter, Grover claimed that the company’s board of directors and investors targeted him for issues and made a witch hunt because he rejected allegations of financial mismanagement and said his contributions to the growth of the company were being undermined.

Legal Battle

BharatPe was said to have planned legal action against Grover and his wife to recover money that was allegedly used over four years under bad directions. Grover also threatened to file lawsuits against the board members, sticking to his version that he was unfairly ousted from the company.

The legal and public sparring between Grover and BharatPe had continued with reciprocal accusations. However, BharatPe very clearly mentioned that they would take Grover to task for the financial impropriety that had taken place at that company.

Public Perception

However, this controversy split the public opinion. There were many who admired Grover for his entrepreneurial journey and the success of BharatPe under his leadership. Appointments in Shark Tank India, late 2021, further embellished his public image because he emerged as no-nonsense but outspokenly brilliant. This controversy really sullied his image, and he wore a murky coat of misconduct with financial fraud allegations.

The debate also opened up the corporate governance issue of the startup ecosystem within India on the other side. Questions were raised on how companies were being run and if it was merely a situation where successful founders were being let off free without much accountability for ethical lapses or failures in governance.

Aftermath

BharatPe’s Future: BharatPe continued to do business under the new leadership team even after Grover’s exit from the company. The corporate governance is now zeroed in on improving and the company assured that there would be no lack of transparency with the investors and stakeholders.

Ashneer Grover’s Planning for the Future: Post-exit, Grover continued to stay in the limelight in the business fraternity and indicates that another new venture might be up. He remained proactive in public discussions pertaining to the topics of startups and entrepreneurship.

Lessons to Learn From Ashneer Grover

1. Be persistent

Ashneer Grover’s journey offers valuable lessons in persistence that can inspire and guide individuals in their own pursuits. As a co-founder of BharatPe, Grover faced numerous challenges and setbacks but remained steadfast in his vision, demonstrating key aspects of persistence.

The first and most valuable lesson that we can learn from Ashneer Grover’s journey at BharatPe is that persistence pays. When Ashneer started BharatPe, he faced a lot of challenges and hardships during the initial days of business. Because of his persistent and strong mindset, BharatPe was able to grow rapidly in the competitive market of the Indian fintech industry, where brands like Paytm were leading from the front.

Persistence also helps you achieve your goals, no matter how many hardships you face. It also keeps you motivated and reminds you of the goals, mission, and vision that you want to achieve in life. When Ashneer Grover started BharatPe, the Indian fintech market was dominated by big brands like Paytm and Phonepe. Because of the persistence of Ashneer Grover, BharatPe’s unique value to small and midsize merchants helped them stand out in the market.

2. Networking

According to Ashneer Grover, collaboration and networking are the most important factors for success in life and in the startup ecosystem, especially in India. Ashneer Grover also understands the importance of collective efforts, which leads to greater success, and he encourages his employees, investors, and all stakeholders to work in tandem towards a common goal.

You can start by building genuine relationships rather than just transactional connections. This opens the door for long-term collaboration and opportunities for business growth. Also, networking and collaborating with like-minded people and entrepreneurs help us learn from the experiences and insights of others. Ashneer Grover has mentioned several times in his interview how interacting with other successful entrepreneurs and industry experts has helped him gain valuable knowledge.

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3. Think big and start small.

The success story of Ashneer Grover teaches us about thinking big and starting small. Starting from a single room, BharatPe gradually expanded by laying a solid foundation. During the early days, BharatPe Pay targeted merchants from small towns and cities; later, they expanded their operations throughout India. This clearly justifies the big-and small-start ideology of Ashneer Grover. 

Starting small means a specific target area or niche where the initial efforts can be made to lay a strong foundation. For example, if you are running an online clothing store, you can target a few people in the beginning who reside in your locality or area. This approach will also help you get feedback and build a strong foundation to step towards a larger goal. 

4. Accept the failure. 

The success story of Ashneer Grover reminds us that failure is not the end. It is the gateway to success. By accepting failure and learning from the mistakes, Ashneer was able to find new opportunities and refine his strategies to achieve success. Prior to BharatPe, he co-founded a delivery startup, which did not work. However, he learned from the mistakes and failures to shape his approach with BharatPe.

Failure provides valuable lessons that can inform future decisions and actions. Understanding what went wrong allows for improvement and adaptation in subsequent endeavors.  Embracing failure cultivates resilience—the ability to bounce back stronger after setbacks. It strengthens determination and perseverance in the face of challenges.

5. Leverage technology 

Leveraging technology in business is essential for maintaining competitiveness and driving growth. By integrating technological advancements into operations, businesses can significantly enhance efficiency and productivity. Automation tools streamline processes, reducing manual errors and allowing resources to focus on strategic initiatives. Communication and collaboration platforms facilitate seamless interaction among teams, regardless of location, fostering agility and teamwork. Data analytics capabilities enable businesses to make informed decisions based on real-time insights, optimize operations, and identify new opportunities. 

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Quotes from Ashneer Grover

1. “It is important to remember that the investor is just another vendor.”

I personally agree with this quote from Ashneer Grover that highlights the fact that investors are the only vendors who provide capital in exchange for equality or returns from the company in which they invest. For example, a vegetable vendor supplies goods for a fee. In a similar way, the investor offers money in return for equity. 

This perspective allows the start-up founders to better negotiate the terms and conditions and choose the investor who aligns with their business goals and values. Most investors offer money only because of equity or profit in business. Only a few offer a helping hand.

By treating investor relationships with the same professionalism and clear expectations as vendor relationships, businesses can ensure mutual benefits and obligations are met, fostering a more balanced and strategic partnership.

2. “You need to be absolutely unapologetic about working with family.”

This quote from Ahsneer Grover signifies that one should confidently and openly engage in business relationships with friends and family. This perspective encourages setting aside concerns about potential criticism or biases and focusing instead on the benefits and trust that can come from working with those who share a personal bond.

By being unapologetic, you signal to others that family involvement is a deliberate and strategic choice, fostering an environment where personal and professional interests can align seamlessly, ultimately strengthening the business.

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3. “In bad times, the only people you feel like standing beside you will be your family. You cannot even rely on your friends of twenty years; they may go completely silent on you.”

This quote explains the fact that even a long-lasting friendship can end at a certain point in life. And it is only your family who will stand by your side in good and bad times. Family bonds tend to remain strong and unbreakable even in tough times, and they do not falter under stress or adversity. Also, in challenging situations, family members are more likely to offer support and love as compared to friends. 

4. “If you choose to work with your spouse, there should be no hesitation in designating them as co-founders as well as giving them a seat on the board.”

This quote emphasizes the importance of recognizing your spouse’s contributions and ensuring they have a formal, influential role in the business. This approach not only acknowledges their commitment and partnership but also fosters a balanced power dynamic and shared responsibility. By granting them the titles and positions they deserve, you demonstrate trust and respect, which can strengthen both your professional and personal relationships, ultimately contributing to the success of the business.

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