Money & Banking

BharatPe bullish about growth prospects

Our Bureau Coimbatore | Updated on November 23, 2020

BharatPe has announced the roll out of its fintech services in Coimbatore.

This is in line with its expansion strategy and is aimed at emerging as the preferred financial services partner for SME merchants in the country.

The company, with an existing network of 5 million+ merchants across 35 cities, plans to add one lakh merchants from Coimbatore to its existing list in the next six months. (BharatPe’s existing user base across 18 cities in the South is 20 lakh+).

A company release said that transactions worth $7 billion are processed annually and monthly advances is over ₹150 crore. The company is planning roll out loan products for small and medium businesses in the city.

Suhail Sameer, Group President, BharatPe, said the company has done exceptionally well across markets over the last few months and recorded consistent double digit growth on a month-on-month basis.

The company is bullish about its lending business and is targeting to disburse ₹1,000 crore by the end of the current fiscal.

Published on November 23, 2020

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