BharatPe on Thursday said it has raised $108 million (over Rs 786 crore) in Series D equity round, that puts the fintech services firm at a valuation of $900 million (approx Rs 6,552 crore).
“It has raised $90 million (over 655 crore) in primary fund raise, and ensured secondary exit for its angel investors and employees for a total amount of $18 million (nearly Rs 131 crore),” the company said in a statement.
This funding round was led by existing investor Coatue Management and all seven existing institutional investors participated in the round i.e. Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital.
With this round, the company has raised a total of $268 million in equity and debt to date.
Ashneer Grover, Co-Founder and CEO, BharatPe said, “With the balance sheet well capitalised (more than $200 million in bank), 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,” he added.
Last month, the company announced that it had raised Rs. 249 crore in debt from Alteria Capital, InnoVen Capital, Trifecta Capital and ICICI Bank.
BharatPe is currently facilitating over Rs 200 crore of loans to its merchant partners every month through its NBFC partners.
In November 2020, BharatPe toppled GooglePay to take No 3 position in the UPI P2M category.