BharatPe raises $108 million in its Series D round
New Delhi: Merchant-focused QR code-based payments firm BharatPe has raised $108 million in its Series D round led by Coatue Management with participation from existing backers include Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital.
According to the Ashneer Grover-led company, it has achieved the post valuation milestone of $900 million following the Series D round which saw $90 million in primary and $18 million secondary funding.
The fresh capital infusion has come at a time when BharatPe is in the market to raise around $500-$700 million in debt for the next two years. Last month, the company also announced that it had raised Rs 249 crore debt fund from Alteria Capital, InnoVen Capital, Trifecta Capital, and ICICI Bank.
With a presence in 75 cities in the country, the fintech company claims to have facilitated over Rs 200 crore of loans to its merchant partners every month through its NBFC partners. In November 2020, BharatPe toppled GooglePay to take the number 3 spot in the UPI peer-to-merchant or P2M category. Additionally, BharatPe has deployed more than 50,000 PoS machines and enables transactions of more than Rs 900 crore per month on our PoS machines.
