Companies

BharatPe raises ₹100 crore in debt from MAS Financial Services

Our Bureau Mumbai | Updated on October 25, 2021

Company says it is on track to build a loan book of $1 billion by March 2023 for its lending partners

Fintech firm BharatPe has raised ₹100 crore in debt from MAS Financial Services. “This is the eighth round of debt fund raise for the company in 2021. BharatPe has raised a total of over ₹ 600 crore in debt at competitive rates, this calendar year,” it said in a statement on Monday.

“Our recent debt raises will give us the raw material to build our merchant lending vertical more aggressively. BharatPe is one of the largest B2B fintech lenders in India today, facilitating loan disbursals of over ₹300 crore to offline merchants every month,” said Suhail Sameer, Chief Executive Officer, BharatPe.

Nishit Sharma, Chief Revenue Officer, BharatPe said the company is on track to build a loan book of $1 billion by March 2023 for its lending partners. “We will continue to raise debt as well as explore partnerships with Indian and international investors including banks, NBFCs, large pension funds, credit funds as well as development financial institutions,” he said.

Also read: Bharatpe enters ‘Buy Now Pay Later’ segment

BharatPe said it has facilitated disbursals of over $400 million in unsecured loans to over three lakh merchants, since the launch of its lending product.

The company said it remains bullish about its lending vertical.

BharatPe had previously raised seven rounds of debt financing in 2021, having secured over ₹500 crore from top venture debt funds including Alteria Capital, InnoVen Capital and Trifecta Capital, banks such as ICICI Bank and Axis Bank, NBFCs like Northern Arc Capital and wealth management companies such as IIFL Wealth and Asset Management in the earlier rounds.

Published on October 25, 2021

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