Fintech unicorn BharatPe has marked the final close of its $100 million debt round led by InnoVen Capital in the range of $60-70 million, according to sources. The New Delhi-based startup’s new debt round comes after a gap of more than two years.

The fintech major’s NBFC arm Trillion Loans has also raised a separate debt round from Credit Saison, as per sources. In May 2023, BharatPe acquired a majority 51 per cent stake in Mumbai-based Trillion Loans. The Tiger Global-backed firm also appointed Ravindra Pandey, Nalin Negi and Sabyasachi Senapati on the board of the NBFC arm.

This round comes after BharatPe raised its last equity round in August 2021 when it announced $370 million in Series E round.

Till date, the company has raised over $650 million in equity and debt from the likes of Tiger Global, Dragoneer Investment Group, Steadfast Capital and others.

Strategic advancements

Recently, BharatPe’s reported revenue of ₹904 crore in FY23, compared with ₹321 crore in FY22 owing to growth and strategic advancements across key business segments.

Further, it has reduced its loss before tax from ₹5,594 crore to ₹886 crore. Additionally, the EBITDA loss also decreased by approximately ₹158 crore.

In the lending vertical, its merchant lending division witnessed an increase of 129 per cent in loans facilitated (reaching ₹5,339 crore). It has also introduced innovative revenue streams, including QR usage, credit card bill payments and utility payments, showcasing dedication to innovation and diversification in its consumer business.

Even the swipe business experienced a 63 per cent increase in TPV and the installation of approximately 8 lakh new soundbox devices in FY23.

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