The company intends to raise $34 Mn debt in this round, with $8.2 Mn coming from InnoVen
BharatPe surpassed Google Pay to become the third-largest player in the merchant UPI payments in November 2020
It claims to have grown 4x through the pandemic, and is looking at 5x grown by 2022
Delhi-based merchant focused payments platform BharatPe has raised INR 90 Cr ($12 Mn) in venture debt from Alteria Capital, with the intention to raise INR 250 Cr ($34 Mn) of debt in this round. Last week, the company had raised INR 60 Cr ($8.2 Mn) in debt from InnoVen Capital.
The company intends to raise $700 Mn of debt capital over the next two years to help small merchants meet their credit needs and scale accordingly, BharatPe group president Suhail Sameer has said in a press note. The fintech startup, which enables merchants to access credit and other value-added financial services, claims to have facilitated disbursement of over INR 800 Cr till date to merchants listed on the platforms.