MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

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.

YOU MAY ALSO LIKE

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

Countries in Asia-Pacific are marching towards ‘green recovery’ amidst Covid-19 crisis

2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...

Department of Telecommunication to announce the new schedule for 5G trials

Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...

RECOMMENDED