BharatPe raises Rs 50 Cr in debt from Northern Arc

BharatPe has raised Rs 50 Cr in debt from Northern Arc Capital, a digital debt finance platform that is focused on improving access to finance for under-served businesses and individuals in India.

Having already facilitated disbursals of over Rs 1,600 Cr to more than 2 lakh merchants since the launch of the lending vertical, BharatPe aims to disburse Rs 14,000 Cr in business loans by March 2023.

Suhail Sameer, Group President, BharatPe, said,“At BharatPe, we are committed to bridge the credit gap for SMEs and small merchants in the country. We have considerably ramped up our lending business in the last year and have set an ambitious target of facilitating disbursals to the tune of $1 Bn to 10 lakh+ merchants by the end of current fiscal (FY22).”

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