BharatPe is looking to increase its loan book to $684 Mn in the next two years
It plans to raise $750 Mn of debt by 2022 to cater to the credit needs of 10 Mn users
It has already raised $20.2 Mn in two traches from Alteria Capital and InnoVen Capital
Delhi-based merchant-focused payments platform BharatPe has raised INR 50 Cr ($7 Mn) in from Trifecta Capital, as a part of its plan to raise $700 Mn of debt in the next two years.
BharatPe intends to use this debt to increase its loan book to INR 5,000 Cr ($684 Mn) by 2022 and focus primarily on lending for growth. Founder and CEO Ashneer Grover, in conversation with Inc42, said that the company pent its first two years focussing on product building, getting customers on board, building a team, making merchants aware of the BharatPe system and other aspects of the businesses.
Now with the focus on lending, it will be focusing on scaling up its operations and increasing its userbase to a network of 10 Mn merchants by 2020. To increase its…