BHARATPE RAISES $108 MN, VALUED AT $900 MN

MUMBAI: Fintech major BharatPe said it has raised $108 mn (over Rs 786 crore) in funding, led by existing investor Coatue Management, at a valuation of $900 mn (over Rs 6,551 crore).

It has raised $90 mn in primary fund raise and also ensured secondary exit for its angel investors and employees for a total amount of $18 mn, a statement said. The series D round also saw participation from all seven existing institutional investors - Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital, it added.

With this round, the company has raised a total of $268 mn in equity and debt till date. With the balance sheet well-capitalised (more than $200 mn in bank), BharatPe can deliver $30 billion TPV and build a loan book of $700 mn with small merchants by March 2023, he added.