About BharatPe

BharatPe was co-founded by Ashneer Grover and Shashvat Nakrani in 2018 to build a holistic FinTech platform for small merchants. The company is committed to empowering the over 50 million-strong SME community with its range of financial products, specially designed to address their needs.

BharatPe was the first company to launch interoperable zero MDR UPI QR, intending to universalize digital payments in 2018. In just two years, BharatPe has become the #1 offline acquirer for UPI QR transactions in the country. The company has been processing 5 crore+ UPI transactions a month with an annualized TPV of over US$ 7 bn).

Today, BharatPe is a full-stack service app for merchants across small and medium businesses, offering loans, investments, insurance and other financial services. At present, it has an extensive network of over 5 million merchants across the country across 35 cities in the country. The company has plans to expand its presence to 65 cities by the end of December 2020.

Apart from enabling UPI payment acceptance from over 150+ apps, the company is the first to partner with a P2P NBFC to offer an investment product. BharatPe offers a unique P2P Lending product, wherein BharatPe’s merchants have the option to take 1M/3M/6M/12M loans starting from INR 25k and going up to INR 7 Lakhs at competitive rates and payback in the form of EDIs (Easy Daily Installments). The company’s lending business has been scaling up well and it has already facilitated disbursement of more than 40,000 loans (worth Rs. 500 crores+) to its merchants since its rollout. It has set a target of disbursing loans to the tune of Rs. 1000 crores by the end of the fiscal year.

BharatSwipe, launched in July 2020, is the first-of-its-kind of POS machine that allows payment acceptance from a range of debit & credit cards without any transaction charges. The company has already deployed ~35,000 machines and aims to deploy 1 lac POS machines by the end of the fiscal year. BharatPe’s POS business has grown to US$ 2bn annualized transaction value in just 3 months post the launch.

The company has received several awards and accolades for the commendable work it has done to enable the businesses of SMEs. Recognizing BharatPe’s efforts to help digitise India at the grassroots level, the Government of India and Ministry of Electronics and Information Technology (MeiTY) awarded BharatPe for Innovation in Digital Payment at its annual awards in August 2019. This year BharatPe also won a place in the CB Insights List of the world’s most promising fintech companies and was amongst top 20 Indian start-ups. Recently, BharatPe was declared as one of the winners at the National Startup Awards organized by the Government of India. It was the only startup in the ‘finance’ category to be adjudged as a winner.

BharatPe aspires to become a full-fledged digital bank for merchants. BharatPe endeavours to leverage the best-in-class technology to build customized and simple to use financial products for the merchant community.

The company has raised close to US$ 143 million over four rounds of funding from seasoned and top-quality investors from across the world. BharatPe’s list of marquee investors includes Beenext, Sequoia, SteadView Capital, Ribbit Capital, Coatue Management LLC, Insight Partners, amongst others.

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