BharatPe Successfully Concludes $100 Million Debt Round to Fuel Strategic Growth

• ByStartupStory     |    January 20, 2024

BharatPe, the leading fintech unicorn, has officially marked the close of its $100 million debt round, with InnoVen Capital leading the funding in the range of $60-70 million, sources report. This marks BharatPe’s return to debt fundraising after a hiatus of over two years.

In addition to the overall funding, BharatPe’s NBFC arm, Trillion Loans, has secured a separate debt round from Credit Saison, sources confirm. BharatPe acquired a majority 51% stake in Mumbai-based Trillion Loans in May 2023 and appointed key figures, including Ravindra Pandey, Nalin Negi, and Sabyasachi Senapati, to the board of the NBFC arm.

The recent debt round follows BharatPe’s last equity round in August 2021, where it announced a substantial $370 million in Series E funding. To date, the fintech giant has raised over $650 million in equity and debt from prominent investors, including Tiger Global, Dragoneer Investment Group, and Steadfast Capital, among others.

BharatPe’s strategic advancements and growth initiatives have reflected positively in its reported revenue, reaching ₹904 crore in FY23 compared to ₹321 crore in FY22. Notably, the company has significantly reduced its loss before tax from ₹5,594 crore to ₹886 crore, with a simultaneous decrease in EBITDA loss by approximately ₹158 crore.

In the lending vertical, BharatPe’s merchant lending division observed a remarkable 129% increase in facilitated loans, totaling ₹5,339 crore. The company’s commitment to innovation and diversification is evident in the introduction of innovative revenue streams, including QR usage, credit card bill payments, and utility payments in its consumer business.

BharatPe’s swipe business also experienced a notable 63% increase in Total Payment Volume (TPV), accompanied by the installation of approximately 8 lakh new soundbox devices in FY23.

The successful closure of the $100 million debt round positions BharatPe for continued strategic growth, reaffirming its status as a major player in the fintech landscape. As the company continues to innovate and expand its offerings, the recent funding will play a crucial role in propelling BharatPe’s vision forward.

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