Indian Start-up BharatPe Secures USD 108 Million in Series D Funding

BharatPe, India’s leading financial services company for merchants, announced that it has secured $108 million in Series D funding, at a valuation of $900 million. The company further shared that it has secured $90 million in primary fund raise and also ensured secondary exit for its angel investors and employee for a total amount of $18 million.

The round was led by the company’s existing investor Coatue Management. All 7 existing institutional investors participated in the round - Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequaia Capital. With this round, the company has raised a total of $268 million in equity and debt till date.

Commenting on this, Ashneer Grover, co-founder and CEO said “We, at BharatPe, do not celebrate fund raises - it is akin to procuring raw material. We are super excited though to have returned INR 125 crores of capital to angels and all ESOP holders, earning them one of the highest returns on investment. The team is committed to make money for all stakeholders - investors, lenders, borrowers, employees and banks. With the balance sheet well capitalized (more than $200M in bank), we are going to keep our heads down and deliver $30B TPV and build a loan book of $700 million with small merchants by March 2023.”