The Relationship Tips
Take a fresh look at your lifestyle.

BharatPe in talks to raise $250M led by Tiger Capital: Report

0

New Delhi: Fintech major BharatPe, that hit a new high with 106 million monthly transactions in UPI in March this year, is reportedly raising nearly $250 million in its next funding round led by Tiger Global.

TechCrunch on Friday reported, citing sources, that the fresh funding will take the company’s valuation to about $2.5 billion.

When reached, the company declined to comment at the moment.

The financial services company last month raised Rs 50 crore in debt from Northern Arc Capital, one of the leading digital debt finance platforms. This was the sixth round of debt financing in 2021.

YOU MIGHT ALSO LIKE

In January, the company had raised Rs 200 crore from three top debt companies in the country — Alteria Capital, InnoVen Capital and Trifecta Capital, having later raised additional capital from ICICI Bank and Axis Bank.

“We have considerably ramped up our lending business in the last year and have set an ambitious target of facilitating disbursals to the tune of $1 billion to more than 10 lakh merchants by the end of current fiscal (FY22),” Suhail Sameer, Group President, BharatPe, had said.

The fintech company has already facilitated disbursals of over Rs 1,600 crore to more than 2 lakh merchants since the launch of the lending vertical.

As per a recent report by ACI Worldwide and Global Data, India has outpaced the US and China to become the world’s biggest real-time digital payments market, driven by P2P as well as merchant payments.

BharatPe said it is committed to help small merchants and kirana store owners grow their business with a range of fintech products for them.


Get the latest updates in Hyderabad City News, Technology, Entertainment, Sports, Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS.

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time
Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

The Relationship Tips We would like to show you notifications for the latest news and updates.
Dismiss
Allow Notifications