Fintech leader BharatPe has successfully raised INR 150 crore in debt funding from Neo Wealth and Asset Management, along with Trifecta Capital.
This strategic funding highlights the company’s ambitions to strengthen its financial footing and expand its offerings.
The debt funding was split into two phases, with INR 25 crore raised in January and the remaining amount secured in November last year. This development aligns with BharatPe’s broader goal of achieving EBITDA profitability by the end of the financial year 2024-25 (FY25).
As BharatPe works toward sustainable profitability, the company is exploring new avenues to diversify its portfolio. According to CEO Nalin Negi, BharatPe plans to introduce mutual funds and insurance products in the near future. Additionally, the company is preparing to apply for the Reserve Bank of India’s offline payment aggregator license as soon as applications reopen.
The fintech giant is also eyeing its initial public offering (IPO) but anticipates it will require 18-24 months to be IPO-ready.
BharatPe is reportedly planning to divest 25% of its stake in Unity Small Finance Bank (Unity SFB) to raise $800 million. Currently, its parent entity, Resilient Innovations, holds a significant 49% stake in Unity SFB.
Amid these strategic shifts, BharatPe continues to bolster its product offerings. The company recently introduced Invest BharatPe, a new investment platform that launched with digital gold as its flagship product. BharatPe has also embraced the super app trend by incorporating an ecommerce section into its platform alongside features like UPI payments, bill payments, credit card repayments, and personal loans of up to INR 15 lakh through partnerships with NBFCs such as L&T Finance, CASHe, and True Credit.
BharatPe reported a robust consolidated revenue of INR 1,426 crore in FY24, marking a 39% increase from INR 1,029 crore in FY23. This growth underscores the company’s resilience and its ability to capture opportunities in the highly competitive fintech landscape.
The company also recently settled a two-year-long legal dispute with former managing director Ashneer Grover, signaling a fresh start for the fintech major as it focuses on innovation and growth.
BharatPe’s latest funding and strategic initiatives position it as a key player in India’s fintech ecosystem, poised to drive financial inclusion and innovation across the country
