Saturday, 17 August 2024, Bengaluru, India
BharatPe is a fintech platform that acquired 60 percent of the stake in its NBFC arm Trillion Loans. The company has invested around $8 to $9 million to increase its stake in the firm. startup. BharatPe offers an online payment platform with efficient and secure transaction processes enabling users to make faster and more efficient payments. This investment is an initiative to boost the confidence among external stakeholders.
Trillion Loans will use this fresh capital to scale up operations, enhance its platform, meet general corporate purposes, and improve its workforce. The company provides gold loans to the customers. The firm also offers a platform that allows users to complete the KYC verification and apply for gold loans. BharatPe acquired 51 percent of this non-banking finance company in May 2023 and appointed Nalin Negi, Ravindra Pandey, and Sabyasachi Senapati to the board of Trillion Loans. Last month, BharatPe secured $10 million during its debt funding round from Trifecta Ventures and Innoven Capital with the participation of Peak VX partners and Coatue to expand its services across the country.
BharatPe reported around a 16 percent increase in its operating revenue to Rs 1,370 crore in FY24. However, its losses decreased by 70 percent to Rs 270 crore in the same duration. The platform uses advanced technologies to operate secure transactions in real time. The startup wants to make the digital payment platform secure, accessible, and transparent to everyone. BharatPe uses a technology-driven approach to offer its services and strengthen its position in the financial marketplace. The development came just after the fintech sector showed increased investor interest. The company faces competition from other fintech platforms such as Paytm and more.
The source close to the deal told Entrackr that Trillion Loans reached a valuation of $100 million. Following this the fintech major plans to acquire a 100 percent stake in this non-banking fiancé company by the next two years. In addition, the company is also trying to increase its stake in the Unity Small Finance Bank. BharatPe currently has a 49 percent stake in the Unity small finance bank and Centrum Group owns the remaining 51 percent. The company is trying to get this share from Centrum to get full control of the banking company.
Conclusion:
BharatPe is a fintech unicorn that offers an online payment platform. The company increased its stake in its non-banking financing Company, Trillion Loans by investing $8 to $9 million. After this round, the fintech major accounts for a 60 percent stake in the Mumbai-based company. This investment will be profitable for trillion loans, enabling them to improve their technologies and bring more innovative payment solutions. This investment will allow Trillion Loans to scale its operations and enhance its technologies to offer more innovative financial solutions. BharatPe raised 10 million USD from Innoven Capital and Trifecta Ventures during its second debt funding round last month. The company is trying to buy a 100 percent stake in the Unity Small Finance Bank in the next 24 months.
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