BharatPe Secures ₹150 Cr Debt Funding, Aims for EBITDA Profitability by FY25
- ByStartupStory | January 16, 2025
Fintech major BharatPe has successfully raised debt funding of ₹150 crore from Neo Wealth and Asset Management and Trifecta Capital. Out of the total amount, ₹25 crore was raised in January 2024, while the remaining ₹125 crore was secured in November 2023.
The development comes as BharatPe targets achieving EBITDA profitability by the financial year ending March 2025 (FY25). Speaking to The Economic Times, Nalin Negi, CEO of BharatPe, revealed the company’s plans to expand its financial services portfolio by launching mutual funds and insurance offerings soon.
“We are mulling launching mutual funds and insurance offerings in the near future,” said Negi.
Additionally, BharatPe is gearing up to apply for an offline payment aggregator license once the Reserve Bank of India (RBI) reopens the application process. On the company’s IPO plans, Negi mentioned, “The company would need at least 18-24 months to get ready for its initial public offering (IPO).”
The fundraising announcement follows reports of BharatPe’s plans to sell a portion of its stake in Unity Small Finance Bank (Unity SFB) to raise $800 million. BharatPe, through its parent entity Resilient Innovations, currently holds a 49% stake in Unity SFB and is considering divesting 25% of it.
BharatPe has been on an aggressive growth trajectory. In recent months, the company launched Invest BharatPe, a dedicated app for investment products, debuting with digital gold. BharatPe has also embraced the super app model, integrating an e-commerce section alongside its existing features, including UPI payments, bill payments, credit card repayment options, and unsecured personal loans of up to ₹15 lakh in partnership with NBFCs like L&T Finance, CASHe, and True Credit.
In FY24, BharatPe reported a consolidated revenue of ₹1,426 crore, marking a 39% increase from ₹1,029 crore in FY23.
The company recently concluded a two-year-long legal dispute with its former managing director, Ashneer Grover.
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