Fintech

BharatPe Achieves EBITDA Positivity, Records Rs 1,500 Crore Annualized Revenue Surge

• ByStartupStory     |    November 29, 2023

Digital payments startup BharatPe achieved a significant milestone in October 2023, announcing a positive EBITDA alongside an impressive annualized revenue surge of Rs 1,500 crore—marking a 31% increase from FY23. The fintech company’s noteworthy accomplishment includes a substantial reduction in its EBITDA burn, previously averaging at Rs 60 crore per month in FY23, leading to attaining EBITDA positivity. EBITDA, or earnings before interest, taxes, depreciation, and amortization, serves as a key indicator of a business’s overall profitability.

BharatPe revealed a consistent growth trajectory in its lending vertical, particularly in October, facilitating loans exceeding Rs 640 crore for its merchants through strategic partnerships with NBFCs. This reflected a notable year-on-year spike of 36%, bringing the total facilitated loans since late 2019 to over Rs 12,400 crore. The company has experienced growth across various verticals, including its payment products.

Nalin Negi, CFO and Interim CEO of BharatPe, expressed pride in achieving this milestone, emphasizing the company’s commitment to empowering millions of offline merchants and MSMEs across the country. He highlighted substantial growth in digital payments, with monthly transaction counts exceeding Rs 37 crore.

With a registered network of over 1.3 crore merchants spanning 450 cities, BharatPe plays a significant role in processing 370 million+ UPI transactions, contributing to an annualized Transaction Processed Value exceeding Rs 1.7 lakh crore. The company’s POS business handles payments totaling Rs 29,000 crore annually.

Nalin Negi outlined the company’s future focus on driving financial inclusion across Bharat, aiming to establish BharatPe as one of the largest merchant-first fintech companies in the country. To date, BharatPe has successfully raised over $583 million in equity, securing investments from prominent entities such as Peak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Insight Partners, Amplo, and Tiger Global Management. As BharatPe continues its growth trajectory, industry observers anticipate further developments in the dynamic fintech landscape.

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