Shashvat Nakrani Biography: Fintech Prodigy’s Rise to Billions
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- July 9, 2025
Shashvat Nakrani, born July 14, 1998, in Bhavnagar, Gujarat, is an Indian entrepreneur and co-founder of BharatPe, a leading fintech company. At just 19, he launched a ₹23,000 crore empire, becoming India’s youngest billionaire. This Shashvat Nakrani biography explores his early life, career growth, struggles, comeback, current influence, and lesser-known facts, showcasing his journey to fintech stardom.
Shashvat Nakrani’s Early Life
Growing Up in Gujarat
Born to Mansukhbhai Nakrani, an entrepreneur running a local educational institute, Shashvat Nakrani grew up in a middle-class family in Bhavnagar. His father’s struggles inspired him to aim high. From a young age, he loved coding and technology, excelling in school and showing an early knack for innovation.
IIT Delhi Journey
Shashvat secured an All India Rank of 3796 in the JEE exam, earning admission to IIT Delhi in 2015 for a B.Tech in Textile Technology. At IIT, he explored fintech ideas, co-founding SDSLabs, a coding club. However, his entrepreneurial spirit led him to drop out in his third year to start BharatPe, though he later returned to complete his degree.
Shashvat Nakrani’s Career Growth
Founding BharatPe
In 2018, Shashvat Nakrani co-founded BharatPe with Ashneer Grover and Bhavik Koladiya at age 19. Spotting a gap in digital payments for small merchants, he developed a QR code-based system for zero MDR UPI transactions, supporting apps like Paytm and Google Pay. BharatPe’s innovative approach reached 100 cities, transforming small business transactions.
Unicorn Status and Beyond
By 2021, BharatPe achieved unicorn status with a $2.9 billion valuation, growing to ₹23,000 crore by 2025. As COO, Shashvat led tech development, launching merchant lending programs for instant loans based on transaction history. His technical expertise and vision made BharatPe a fintech powerhouse, processing billions annually.
Struggles and Down Phases
Early Rejections
Starting BharatPe was tough. Shashvat faced rejections from over 100 banks skeptical of his vision. Moreover, dropping out of IIT Delhi sparked family concerns, with his parents hesitant about his risky move. Financial constraints and the pressure to succeed weighed heavily on the young entrepreneur.
BharatPe Controversies
In 2022, BharatPe faced turmoil when co-founder Ashneer Grover was ousted amid allegations of financial mismanagement. Shashvat supported the board’s decision, but lawsuits and public scrutiny followed, including a defamation suit against Grover. The RBI’s 2022 embargo on onboarding new merchants due to licensing issues further challenged growth.
Comeback and Rise to Fame
Despite setbacks, Shashvat’s leadership shone. BharatPe’s revenue surged 182% from ₹321 crore in FY22 to ₹904 crore in FY23, with post-tax losses dropping from ₹5,594 crore to ₹886 crore. His Forbes 30 Under 30 Asia (2021) recognition and Hurun India Rich List (2021) entry at age 23 marked his rise as India’s youngest self-made billionaire.
Current Status and Influence
Fintech Trailblazer
As of June 2025, Shashvat Nakrani holds a net worth of ₹1,300 crore, with a 7.8% stake in BharatPe. He oversees operations, driving innovations like BharatSwipe, with 2 lakh PoS machines across 250 cities. His 16 startup investments, including Crib and Deserv, show his commitment to fintech and tech growth.
Personal Life and Advocacy
Unmarried and based in Gurugram, Shashvat keeps his personal life private. He supports financial inclusion, empowering small businesses through BharatPe’s lending programs. Additionally, he promotes tech education in rural India, mentoring young innovators at events like IIT Delhi’s TRYST 2022. His vision includes making BharatPe a fully digital bank.
Lesser-Known Facts
- JEE Rank: Secured AIR 3796 in IIT JEE.
- Coding Prodigy: Co-founded SDSLabs at IIT Delhi.
- Youngest Billionaire: Entered Hurun India Rich List at 23.
- Investor: Backed 16 startups in fintech and healthcare.
- Keynote Speaker: Spoke at IIT Delhi’s TRYST 2022.
| Category | Details |
|---|---|
| Full Name | Shashvat Nakrani |
| Born | July 14, 1998, Bhavnagar, Gujarat, India |
| Profession | Entrepreneur, Co-Founder, COO of BharatPe |
| Notable Work | BharatPe, Merchant Lending Program |
| Marital Status | Unmarried (2025) |
| Net Worth | ~₹1,300 crore ($155 million, 2025) |
| Awards | Forbes 30 Under 30 Asia (2021), Hurun India Rich List (2021) |
Conclusion
This Shashvat Nakrani biography highlights a journey of bold risks and innovation. From dropping out of IIT Delhi to co-founding BharatPe, Shashvat Nakrani overcame rejections and controversies to build a ₹23,000 crore fintech empire. His 2025 influence, with a ₹1,300 crore net worth and startup investments, inspires young entrepreneurs to chase big dreams with resilience.
