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The Silicon Review Asia

BharatPe Closes-In On the Coveted $1 Billion Valuation

BharatPe Closes-In On the Coveted $1 Billion Valuation

The Indian merchant payment app BharatPe has raised $108 million in its latest round of funding. The series D funding round has helped it get closer to the coveted $1 billion unicorn status.

The latest round of funding was led by Coatue Management. Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital also participated in the round. This round brings the total funding raised by the startup to $233 million.

In a statement, Ashneer Grover, co-founder and CEO of BharatPe, said: “With the balance sheet well capitalized (more than US$ 200M in bank), we are now going to keep our heads down and deliver US$30B TPV and build a loan book of US$ 700mn with small merchants by March 2023.”

Grover says that the company’s business grew five times, and its lending business has increased ten times in the last twelve months. BharatPe has a presence in over 75 cities today with plans to expand its network in India further. The company had deployed over 50,000 PoS machines by November last year. Every month its app facilitates monthly transactions worth more than $123 million.


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