Finance:BharatPe
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| Type of business | Private |
|---|---|
Type of site | Financial service |
| Available in | Multilingual |
| Founded | 2018 |
| Headquarters | New Delhi, |
| Area served | India |
| Founder(s) | Ashneer Grover Shashvat Nakrani Bhavik Koladiya |
| Chairman | Rajnish Kumar |
| Key people | Nalin Negi (CFO) Ankur Jain (CPO) Aparna Kuppuswamy (CRO) Pankaj Goel (CTO) Parth Joshi (CMO) |
| Industry | Internet E-commerce |
| Services | UPI payments and digital money lending for merchants |
| Revenue |  ₹1,029 crore (US$140 million) (FY23)[1] |
| Net income | Template:Negative increase ₹−941 crore (US$−130 million) (FY23) |
| Parent | Resilient Innovations Private Limited |
| Website | bharatpe |
| Commercial | Yes |
| Registration | Required |
| Current status | Active |
BharatPe is an Indian fintech company that sells digital payment and financial services to small merchants and Grocery stores.[2]
History
According to Peerzada Abrar of Business Standard, "BharatPe was founded in 2018 by Ashneer Grover and Shashvat Nakrani, with the vision of making financial inclusion a reality for Indian merchants."[3]
In 2021, the company acquired Payback India, a "multi-brand loyalty programme"[4][5]
2023 data theft allegations
In 2023 Ashneer Grover, who had left the company, accused his fellow co-founder Bhavik Koladiya of data theft. Grover claimed that Koladiya, who has since left BharatPe, had stolen data of 150 million users.[6]
Investments
BharatPe has a stake in Unity Small Finance Bank.[7]
Subsidiaries
Source:[8]
- Loyalty Solutions & Research Private Limited
- Resilient Payments Private Limited
- Resilient Digi Services Private Limited (formerly Resilient TechServ Pvt Ltd)
- Resilient Capital Private Limited
- Trillionloans Fintech Private Limited
PostPe
In October 2021 BharatPe launched the country's first BNPL (Buy Now Pay Later) product.
References
- ↑ "BharatPe’s revenue crosses Rs 1,000 Cr in FY23". Entrackr. https://entrackr.com/2023/12/exclusive-bharatpes-revenue-crosses-rs-1000-cr-in-fy23/.
- ↑ "BharatPe acquires loyalty platform PAYBACK, aims to expand merchant base to 20 million by 2023" (in en). 10 June 2021. https://www.cnbctv18.com/business/companies/bharatpe-acquires-loyalty-platform-payback-aims-to-expand-merchant-base-to-20-million-by-2023-9611421.htm.
- ↑ Abrar, Peerzada (4 August 2021). "BharatPe's valuation crosses $2.85 bn in $370 mn in Series E equity round". https://www.business-standard.com/article/companies/bharatpe-s-valuation-crosses-2-85-bn-in-370-mn-in-series-e-equity-round-121080400340_1.html.
- ↑ "Valued at $2.85 billion, Bharat Pe raises fresh $370 million in funding led by Tiger Global". 5 August 2021. https://www.financialexpress.com/industry/valued-at-2-85-billion-bharat-pe-raises-fresh-370-million-in-funding-led-by-tiger-global/2304447/.
- ↑ Ranjan, Abhinav (10 June 2021). "BharatPe acquires loyalty platform Payback India" (in en). https://www.indiatvnews.com/business/news-bharatpe-acquires-payback-india-710657.
- ↑ "Ashneer Grover accuses BharatPe co-founder of biggest data theft in India". The Free Press Journal. February 9, 2023. https://www.freepressjournal.in/business/ashneer-grover-accuses-bharatpe-co-founder-of-biggest-data-theft-in-india.
- ↑ "BharatPe nominates Partha Pratim Sengupta to Unity Small Finance Bank board" (in en). 2023-06-19. https://www.cnbctv18.com/business/companies/bharatpe-partha-pratim-sengupta-unity-small-finance-bank-16972181.htm.
- ↑ "Corporate Governance" (in en-US). https://bharatpe.com/corporate-governance/.
External links
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