This is the sixth round of debt financing for BharatPe in the present year
Fintech firm BharatPe seeks in-debt funding worth INR 50 Cr from non-banking finance firm Northern Arc Capital. This news has come just after a few months of closing a multi-dollar round from leading venture capital firms.
Besides current finance, the soonicorn had raised INR 200 Cr from three debt companies in the year 2021 – Alteria Capital, InnoVen Capital, and Trifecta Capita. Later, the company received additional capital from ICICI and Axis banks.
With this investment, the fintech have raised about $300 million in equity and debt to date. As per the claims from the company, it has come out as one of the largest B2B fintech leaders in India, having disbursed loans worth INR 1,600 Cr to around 2 lakh merchants.
The company was founded in the year 2018 by Ashneer Grover and Shashvat Nakrani as a merchant-focused payments platform, offering an umbrella for all existing UPI apps and other payment systems.