India-based fintech startup BharatPe has raised $108 million in a Series D equity round led by existing investor Coatue Management.
The round also saw the participation of other existing investors including Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital.
Speaking on the investment, Ashneer Grover, CEO & Co-founder of BharatPe said, “The team is committed to making money for all stakeholders, investors, lenders, borrowers, employees, and banks.”
“We a steady balance sheet we are now going to keep our heads down and deliver $30 bn TPV (Total payment volume) and build a loan book of 700 mn with small merchant by March 2023,” he said.
“This growth reiterates the trust that small merchants and Kirana store owners of our journey, and we are committed to building India’s largest B2B financial service company that can serve as a one-stop destination for small merchants,” he added.
In the last 12 months, the company reported 5x overall growth, and 10x in the lending business.
