Money & Banking

BharatPe raises $108 million in Series D equity round

Our Bureau Mumbai | Updated on February 11, 2021

The round was led by the company’s existing investor Coatue Management

BharatPe on Thursday announced that it has raised $108 million in a Series D equity round, at a valuation of $900 million.

“It has raised $90 million in primary fund raise and also ensured secondary exit for its angel investors and employees for a total amount of $18 million,” it said in a statement.

BharatPe bullish about growth prospects

The round was led by the company’s existing investor Coatue Management. All seven existing institutional investors participated in the round — Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital.

BharatPe, third-largest player in UPI payment acceptance space

“With this round, the company has raised a total of $268 million in equity and debt till date,” it further said.

Loan book of $700 million

Ashneer Grover, Co-Founder and CEO, BharatPe, said, “With the balance sheet well-capitalised, we are now going to keep our heads down and deliver $30 billion TPV and build a loan book of $700 million with small merchants by March 2023.”

Last month, BharatPe had announced that it had raised ₹249 crore ($35 million) in debt from three venture debt providers — Alteria Capital, InnoVen Capital and Trifecta Capital.

This included raising ₹50 crore in debt from Trifecta Capital, ₹90 crore in debt from Alteria Capital, ₹60 crore from InnoVen Capital, and ₹49 crore from ICICI Bank.

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Published on February 11, 2021
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