Fintech unicorn BharatPe has raised its ownership of Mumbai-based Trillion Loans to almost 60% by investing $8–9 million in the company’s nonbanking financial (NBFC) division.
BharatPe purchased a majority 51% stake in Trillion Loans in May 2023. Additionally, Sabyasachi Senapati, Nalin Negi, and Ravindra Pandey were added to the NBFC firm’s board by the Tiger Global-backed company.
The investment seems to be an attempt to boost confidence among its external stakeholders, which include equity holders and the lending community.
“Trillion Loans is now valued at $100 million. BharatPe is planning to fully acquire 100% stake in Trillion NBFC by next 24 months,” said a source. The source went on to say that in order to gain more power, BharatPe is also working very hard to raise its ownership position in Unity Small Finance Bank.
At the moment, BharatPe owns 49% of Unity SFB, with Centrum Group holding the remaining 51%.
While Trillion Loans closed a different debt from Credit Saison earlier this year, BharatPe raised a larger debt round.
“The investment will enable Trillion Loans to pursue new opportunities, leverage its capital, and operate within comfortable regulatory limits,” said another source.
In August 2021, BharatPe completed its most recent equity round. It was in talks to raise a larger equity round, according to reports in the media. Despite the non-materialization of the equity funding, it has raised several debts over the last three years. In the current fiscal year (FY25), the company is also probably going to turn a profit on a consolidated basis. According to reports, BharatPe’s operating revenue rose by 16% to Rs 1,370 crore in FY24, while its losses decreased by 70% to Rs 270 crore.
