BharatPe plans to raise $150-200 million in equity funding and around $500 million of debt, in the biggest fund-raise for the payments and alternative lending startup. The company aims to raise the first tranche of about $100 million equity by March, chief executive and co-founder Ashneer Grover said in an interview, adding the debt will be raised over two years. The New Delhi-based company last raised nearly $75 million in February 2020 as part of a Series C round led by New York-based hedge fund Coatue Management and Palo Alto-based Ribbit Capital
The coming round could value BharatPe at $1 billion, a person aware of the fund-raise talks said on condition of anonymity, which would make it India’s seventh fintech unicorn. BharatPe was valued at $400 million in its last equity fund-raise. The company will use the debt to bolster lending operations with new products and enter new retail segments.
Courtesyg: Google (photo)
