Grofers CFO Ashneer Grover Quits Amidst Company’s Merger Talks

Grofers Office

Ashneer Grover, who was working as the Chief Financial Officer at Grofers — one of the leading grocery delivery startup, has resigned from the company.

The development comes at a time when the company is rumored to be enaged in merger talks with online grocery retailer BigBasket.com.

According to the LinkedIn profile of Ashneer Grover, he quit in August this year, after about two-year stint with Grofers. He joined Grofers in March 2015. Prior to this, he was Director (Corporate Development) at American Express.

A report on Moneycontrol says that Grover is already in talks with a company and will disclose his next move post-Diwali. He said:

It is very preliminary but most likely it is now going to be in a business leadership role as against the role of a CFO. I would most probably be heading a business now.

Grofers’ co-founder and CEO Albinder Dhindsa has said that the company has already hired a new CFO, who will join on October 16.

Grofers, founded in 2013 by Dhindsa and Saurabh Kumar, is an on-demand delivery service connecting consumers with their local merchants. It is one of the heavily-funded companies in the delivery space in India.

Till date, it has raised more than $165 million from a slew of investors, including Tiger Global and SoftBank. However, the company is going through rough times, and had to let go of significant number of employees.

Currently, it is being reported that Grofers is in merger talks with bigger rival BigBasket. Citing sources, a Mint report suggests that if materialised, the deal will also see SoftBank investing around $60-100 million funding round in the combined entity.