BharatPe, an Indian fintech startup, is said to be in negotiations to secure $100 million in an equity round. The company, which offers digital payment solutions for small merchants, aims to deploy the funds to fuel its growth and expand its services. BharatPe provides merchants with QR codes and point-of-sale machines to accept digital payments from customers. Currently, the company has a presence in over 75 cities across India and claims to process over 10 million transactions per month. BharatPe’s latest funding discussions come as the company looks to capitalize on the digital payment boom in India, fueled by the government’s push for a less-cash economy. With increasing smartphone penetration and the rise of e-commerce, the demand for digital payment solutions has surged in the country. According to industry reports, India’s digital payments industry is expected to reach $1 trillion by 2023. BharatPe aims to tap into this opportunity by providing small merchants with hassle-free digital payment solutions. The company has also been exploring partnerships with traditional lenders to offer working capital loans to its merchant partners. Currently, BharatPe claims to have disbursed over $500 million in such loans. The potential $100 million equity round will enable BharatPe to continue expanding its presence across India and introduce new products and services. The company faces competition from other players in the digital payment space, including Paytm and PhonePe. However, BharatPe differentiates itself by focusing on underserved small merchants and offering tailored solutions to meet their specific needs. The latest fundraising discussions come after BharatPe raised $108 million in a debt funding round in February 2021. With the global pandemic accelerating the shift towards digital payments, BharatPe’s growth prospects appear promising. As more consumers and businesses embrace digital payment solutions, the company aims to position itself as a leading player in India’s rapidly evolving fintech landscape.
