BharatPe secures Rs 135 crore in debt funding
Fintech firm BharatPe has raised Rs 135 crore in debt financing and is consolidating its payment aggregator operations ahead of a potential IPO.
Indian fintech startup BharatPe has secured Rs 135 crore (approximately $14 million) in debt funding. The round was led by InnoVen Capital, with participation from Neo Group and Alteria Capital.
The fundraising comes as BharatPe prepares for a potential initial public offering (IPO). The company's board approved the issuance of 13,500 non-convertible debentures to raise the sum. This follows a previous debt round where BharatPe raised Rs 90 crore.
In parallel, BharatPe has received shareholder approval to merge its online and physical payment aggregator businesses into a single entity. This consolidation aims to streamline operations under its parent company, Resilient Innovations Private Limited, in line with regulatory requirements from the Reserve Bank of India for payment aggregators.
CEO Nalin Negi has previously stated that BharatPe is prioritizing profitability and will pursue an IPO when market conditions are favorable. The move by BharatPe and similar preparations by other fintechs like PhonePe and Razorpay indicate a growing trend of consolidation and public market readiness within India's financial technology sector.