BharatPe raises Rs. 100 Cr. in debt funding
BharatPe announced that it raised Rs. 100 crore in debt funding from financial services firm MAS Financial Services Pvt. Ltd.
The fintech company will utilise the capital raised to offer loans to merchants within the country.
“Our recent debt raises will give us the raw material to build our merchant lending vertical more aggressively. As Indian businesses rebound and the impact of the pandemic fades away, we expect the lending vertical to grow multi-fold over the coming months,” said BharatPe CEO Suhail Sameer.
The unicorn claims a total disbursement of $400 million worth of unsecured loans to over 3 lakh merchants till date.
“We are on track to build a loan book of $ 1 billion by March 2023 for our lending partners. We will continue to raise debt as well as explore partnerships with Indian and international investors including banks, NBFCs, large pension funds, credit funds as well as development financial institutions,” commented BharatPe CRO Nishit Sharma.
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