Debt

Debt Financing

Digital lender to merchants BharatPe raises Rs.200-Cr from IIFL, Northern Arc

MyBigPlunge  

BharatPe, which provides financial services to merchants, has raised INR 200 crore debt. IIFL Wealth and Asset Management, and Northern Arc Capital have contributed INR 100 crore each. This is the seventh round of debt funding for the company. BharatPe has raised a total of over INR 500 crore (about USD 70 million) in debt, in the year 2021. It plans to raise USD 250 million in debt by the end of FY22. Earlier this year, BharatPe had raised over INR 300 crore from venture debt funds (Alteria Capital, InnoVen Capital and Trifecta Capital), banks (ICICI Bank and Axis Bank) and NBFC (Northern Arc Capital). BharatPe claims to have already disbursed over USD 300 million in unsecured loans to over 2 lakh merchant partners and has an outstanding loan book of over USD 100 million. Recently, BharatPe had entered the unicorn club (companies with valuation of over USD 1 billion) with series E funding of USD 370 million at a valuation of USD 2.85 billion.