FinTech startup BharatPe raised Rs 60 Cr from Venture debt firm InnoVen Capital to kickstart the fintech startup’s 2021 fundraising. The funding comes at a time when the Delhi-based digital payments company had recorded 6.15 Cr merchant UPI transactions worth Rs 3,334 Cr in November 2020.
BharatPe is a merchant focused payments platform that offers merchants a single interface for all existing UPI apps such as Paytm, PhonePe, Google Pay, BHIM, Mobikwik, Freecharge, TrueCaller among 100 other UPI transaction applications along with providing merchants access to credit and other value-added financial services.
Commenting on the funding, Ashish Sharma, CEO, Innoven Capital India said, “We are excited to partner with BharatPe as their first institutional debt provider. BharatPe is not only helping millions of merchants to accept UPI payments seamlessly but also enabling them access to credit, which has been a pain point. This is a massive market and we look forward to being a partner in BharatPe’s ambitious growth agenda.”