BharatPe turns unicorn, value hits USD 2.85 billion

The current fundraise also included a $20-million secondary share sale through the employee share buyback programme.

Published: 05th August 2021 09:37 AM  |   Last Updated: 05th August 2021 09:37 AM   |  A+A-


Fintech major BharatPe. (Photo| Special Arrangement)

By Express News Service

BENGALURU: Fintech firm BharatPe has become the 19th start-up to enter the unicorn club with the latest $350-million fundraise. The Series E funding round was led by the US investment giant Tiger Global, besides the new investors Dragoneer Investment Group and Steadfast Capital.

BharatPe’s valuation has jumped to $2.85 billion from $900 million during the fundraising, earlier this year. The current fundraise also included a $20-million secondary share sale through the employee share buyback programme.The merchants payment platform has also elevated Suhail Sameer as its Chief Executive Officer, whereas Ashneer Grover, the founder of the company will be the Managing Director.

“We now have $500 millon cash on books and are extremely well-capitalised to deliver on our mandate to build India’s first truly digital bank. BharatPe will remain focused on lending as the core business and small merchants as our primary target segment,” Grover said.BharatPe is facing stiff competition from the likes of Paytm, PhonePe , Pinelabs.



Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp