Fintech firm Bharat Pe announced today that it has raised 100 chlores of debt from non-bank financial company MAS Financial Services Private Limited (MAS Financial) in its eighth round of debt financing in 2021. Standing at Rs600 Chlore for this calendar year.
“BharatPe was bullish on the lending sector, recording 10x growth in the last fiscal year. Today, the company is the country’s largest B2B credit provider,” said a statement, facilitating payments of more than $ 400 million. I added. Unsecured loan to merchants over 30,000 rupees since its launch.
BharatPe raised seven rounds of debt financing in 2021 and secured more than 500 chlores from top venture debt funds such as Alteria Capital, InnoVen Capital and Trifecta Capital, ICICI Bank and Axis Bank, Northern Arc Capital and IIFL Wealth & Asset Management. ..
According to BharatPe, we are on track to reach our debt funding target for 2010.
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Suhail Sameer, CEO of BharatPe, said India has nearly $ 400 billion in SME financing opportunities. “BharatPe is an attractive loan product for offline merchants, working to address this credit gap between small merchants and Kirana store owners,” he said.
BharatPe, one of India’s largest B2B fintech lenders, makes it easy to pay loans to offline merchants over Rs 300 per month.
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Nishit Sharma, BharatPe’s Chief Revenue Officer, said BharatPe’s lending industry has expanded rapidly over the past two years. “In the coming months, we will not only focus on expanding our geographic reach in India, but also launch a range of innovative loan products for our merchants,” he said.
Co-founded in 2018 by Ashneer Grover and Shashvat Nakrani, Bharat Pe serves more than Rs 700,000 merchants in more than 140 cities. The company is a leader in UPI offline transactions, processing more than 11 chlores of UPI transactions per month. Since its launch, BharatPe has paid merchants a loan worth Rs 2,800.
Read also: BharatPe launches “buy now, pay later” platform and postpone
BharatPe will raise a debt of Rs 100 from MAS Financial.600 rupees raised so far this year
Source link BharatPe will raise a debt of Rs 100 from MAS Financial.600 rupees raised so far this year