BharatPe Set to Introduce BharatPe Money, a New Lending Firm, Reports Say

• ByStartupStory     |    November 30, 2023

Fintech giant BharatPe is gearing up to unveil BharatPe Money, a novel lending entity targeting both consumers and merchants, as disclosed by sources familiar with the matter to Entrackr.

This new venture is slated to be an integral part of the broader BharatPe Group, encompassing entities like Postpe and BharatPe Easy Loans. Despite Entrackr’s report, a representative from the company declined to comment on this development.

Kohinoor Biswas, who assumed the role of overseeing consumer lending and Postpe operations at BharatPe in May this year, is set to take charge as the director of the new company alongside Rijish Raghavan.

Concurrently, as per the report, Nalin Negi, associated with the group’s digital lending partner, Resilient Digi Services, is expected to exit due to the organizational restructuring. As quoted by Entrackr, a source stated, “All these activities are part of strengthening internal corporate governance in the company. So, anyone who will be part of Resilient Innovations can’t be part of the new entity.”

The digital lending landscape has emerged as a lucrative revenue avenue for fintech startups, especially amid intensifying competition. BharatPe Money is poised to offer customized loan solutions tailored for Micro, Small, and Medium Enterprises (MSMEs) and consumers.

Additionally, it plans to extend its services to encompass credit card provisions and utility bill payments.

BharatPe had previously announced its acquisition of a majority stake in Mumbai-based NBCF, Trillion Loans, signaling its commitment to expanding its lending portfolio.

The deal, reportedly valued at around Rs 300 crore according to Entrackr, stipulated that NBCF would continue operating as an independent entity. Highlighting its financial progress, BharatPe recently shared news of turning EBIDTA positive in October 2023, achieving an annualized revenue spike of Rs 1,500 crore, marking a substantial 31% increase from the previous year.

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