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BharatPe is in advanced stages of talks to raise about $250 Mn in a new financing round led by Tiger Global, two sources familiar with the matter told TechCrunch.The new round, a Series E, is giving the startup a pre-money valuation of $2.5 Bn.
BharatPe operates an eponymous service to help offline merchants accept digital payments and secure working capital.
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On Friday, India’s central bank RBI granted an in-principle licence to Centrum Financial Services, which acquired a struggling bank earlier this year, to set up a small finance bank. Centrum Financial Services has collaborated with BharatPe for the license, and the Indian startup said in a statement that two are “equal” partners.