BharatPe co-founder and former managing director Ashneer Grover has entered the fintech sector for the second time with medical loan app 'ZeroPay'. According to the Google Play Store listing, 'Zeropay' is developed by Third Unicorn Pvt Ltd, which provides loans of 3, 6, 9 and 12 months duration.
Zeropay has partnered with Delhi-based non-banking financial company (NBFC) Mukut Finvest to provide loans, which provides instant pre-approval medical loan up to Rs 5 lakh. However, this service is available exclusively in partnered hospitals.
After leaving BharatPe, Ashneer Grover along with his wife Madhuri Jain Grover and Chandigarh based entrepreneur Aseem Ghavri launched Third Unicorn in January 2023. The third unicorn debuted with CricPay, which competes with apps like Dream11, Games24x7 and My 11 Circle.
Bharat Pay co-founder Ashneer Grover has been in controversy since 2022. The main reason behind this was an audio of Ashneer that went viral. In this, he was heard speaking derogatory language to an employee of Kotak Mahindra Bank. Apart from this, he was also accused of behaving against the rules of the company.
After receiving a complaint against Ashneer and his wife, the company decided to conduct an investigation. In this investigation, his wife Madhuri Jain Grover was found involved in misappropriation of money. She was accused of using company money to purchase personal beauty treatments, electronic products and a family vacation to America and Dubai.
Payments to personal staff were also made from the company account and fake receipts were made and presented to known people. After this he was dismissed from the company. Then Grover appealed against the decisions of his own company in the Singapore International Arbitration Center (SIC). Here also he had to face defeat. After this, Ashneer had to leave the Bharat Pay company in March 2022.
FinTech is the short name of 'Financial Technology'. This technology is used in online money transactions. Through this, work related to money transactions, digital loans, bank work, cryptocurrency etc. is done online through any app.
