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 raises 50 million in Series B Financing

BharatPe raises 50 million in Series B Financing

New Delhi-based Digital payments platform, BharatPe, has raised 50 million in its Series B Fundings, as it embarks to scale up its business in India.

The funding round was led by Ribbit Capital, an American venture capitalist and Steadview Capital, an England-based firm. Another slew of investors were existing Insight Partners, Sequoia Capital, and Beenext Capital.

In an interview with TechCrunch, Ashneer Grover, CEO and the co-founder of BharatPe said that the value of the company was $225 million after the new funding round.

He added that the company will use the fresh capital to include about 3.5 million merchants within a year. BharatPe adds 4 lakh new merchants under its belt with the help of its 2000 plus sales personnel. In addition, the remaining capitals will be used to finance the loans on the platform and develop fresh solutions.

People familiar with the matter said, two big players, Google and Amazon were also interested to invest in the Series B funding, but BhartPe’s founding team did not show strong interest on diluting their stakes especially in the wake of the company’s recent growth.

Mr. Grover added that the company’s merchant’s counts more than 1.5 million. The number of transactions that is varied out every month is 21 million; worth over $83 million.

The new funding is a big boost for the startup in terms of operations and sustainability.

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