BharatPe Raises INR 150 Cr Debt, Eyes EBITDA Profitability In FY25

Fintech major BharatPe has raised a debt funding of INR 150 Cr from Neo Wealth and Asset Management and Trifecta Capital. 

Out of the INR 150 Cr, INR 25 Cr was raised in January, while the rest was raised in November last year.

Meanwhile, as per a report by ET, the company said it is targeting achieving EBITDA profitability in the financial year ending March 2025 (FY25). 

Nalin Negi, CEO of BharatPe, told the publication that the company is mulling launching mutual funds and insurance offerings in the near future. 

The company, as per the report, is also planning to apply for the offline payment aggregator licence as soon as the Reserve Bank of India (RBI) opens the applications. 

Negi also said that the company would need at least 18-24 months to get ready for its initial public offering (IPO).

This comes days after it was reported that BharatPe is planning to sell a portion of its stake in Unity Small Finance Bank (Unity SFB) to raise $800 Mn. The fintech company is aiming to divest 25% of its stake.

Currently, Resilient Innovations, BharatPe’s parent entity, holds a 49% stake in Unity SFB. 

The development comes at a time when BharatPe is on an expansion spree. A few months back, the fintech giant strengthened its investment offering by launching a new app called  Invest BharatPe. The company launched digital gold as the first product on the platform.

Additionally, the fintech startup also seems to be on the path to join the super app wave. It recently added an ecommerce section on its platform, apart from UPI payments, bill payments and credit card repayment options. It also offers unsecured personal loans of up to INR 15 Lakh via NBFC partners such as L&T Finance, CASHe, and True Credit.

BharatPe posted a consolidated revenue of INR 1,426 Cr in FY24, up 39% from INR 1,029 Cr in FY23.  

Recently, the startup also settled its two-year-long dispute with its former managing director Ashneer Grover.