BharatPe’s Second Bet On Trillion Loans: Raises Stake With $8-9 Mn Infusion

SUMMARY

With the investment, the company's total stake in the NBFC now stands at 60%

BharatPe acquired a majority stake in Trillion Loans last year

The NBFC reported a profit of INR 1.05 Cr in its last disclosed financials for the year 2022-23 (FY23) as against a loss of INR 28.58 Lakh in the previous fiscal

Fintech unicorn BharatPe has reportedly increased stake in its non banking financial (NBFC) arm Trillion Loans with an infusion of $8-9 Mn.

With the investment, the company’s total stake in the entity now stands at 60%, sources close to the matter were quoted as saying by Entrackr.

Meanwhile, a report by Business Outreach said that BharatPe is planning to fully acquire Trillion Loans in the next two years.

BharatPe has declined to comment on Inc42’s queries for the same.

This also marks BharatPe’s second investment in the Mumbai based NBFC after it picked up a 51% stake in the entity back in April last year.

Back then, the company said that the acquisition was in line with its goal to address the credit gaps between businesses and consumers in the country.

“Acquiring controlling stake in Trillion Loans is aligned to the BharatPe Group’s larger purpose and will enable us to facilitate access to capital to a wider set of underserved and unbanked businesses as well as customers,” BharatPe’s COO Shashvat Nakrani had said.

Founded in 2018 by Achal Mittal and Gautam Adukia, Trillion Loans provides a range of tailored credit products including SME loans, personal, vehicle, and consumer loans. It counts the likes of BharatPe Money, Ninjacart, Gokwik, OTO Capital, among its partners.

The NBFC reported a profit of INR 1.05 Cr in its last financials for the year 2022-23 (FY23) as against a loss of INR 28.58 Lakh in the previous fiscal. Its revenue from operations also jumped to INR 232.61 Cr in the fiscal, growing over 33X from FY22’s INR 6.97 Cr.

BharatPe’s investment comes shortly after it raised a debt of INR 85 Cr from Trifecta Venture and InnoVen Capital through issuance of non-convertible debentures (NCDs) in July. Earlier in the year, its NBFC arm Trillion Loans also raised a separate debt round from Credit Saison.

In terms of financials, BharatPe’s consolidated operating revenue crossed the INR 1,000 Cr mark in FY23. Its revenue from operations stood at INR 1,028.9 Cr in the fiscal, a jump of 125% from INR 456.8 Cr in the previous fiscal year.

On the flip side, its losses also widened during the period. The startup posted a net loss of INR 926.9 Cr in FY23, an increase of 12% from INR 828.6 Cr in the previous fiscal year. n its