BharatPe
BharatPe is an Indian fintech company that sells digital payment and financial services to small merchants and Grocery stores.[2]
 | |
| Type of business | Private |
|---|---|
Type of site | Financial service |
| Available in | Multilingual |
| Founded | 2018 |
| Headquarters | New Delhi, |
| Area served | India |
| Founder(s) | Ashneer Grover Shashvat Nakrani Bhavik Koladiya |
| Industry | Internet E-commerce |
| Services | UPI payments and digital money lending for merchants |
| Revenue |  ₹456 crore (US$57 million) (FY22)[1] |
| Net income |  ₹−828 crore (US$−100 million) (FY22) |
| URL | bharatpe |
| Registration | Required |
| Current status | Active |
History
According to Peerzada Abrar of Business Standard, "BharatPe was founded in 2018 by Ashneer Grover and Shashvat Nakrani, with the vision of making financial inclusion a reality for Indian merchants."[3]
In 2021, the company acquired Payback India, a "multi-brand loyalty programme"[4][5]
2023 data theft allegations
In 2023 Grover, who has left the company, accused his fellow co-founder Bhavik Koladiya of data theft. Grover claimed that Koladiya, who has since left BharatPe, had stolen data of 150 million users.[6]
Investments
BharatPe has a stake in Unity Small Finance Bank.[7]
References
- "BharatPe spent Rs 1,483 Cr to earn Rs 457 Cr in FY22". Entrackr. Retrieved 26 January 2023.
- "BharatPe acquires loyalty platform PAYBACK, aims to expand merchant base to 20 million by 2023". www.cnbctv18.com. 10 June 2021.
- Abrar, Peerzada (4 August 2021). "BharatPe's valuation crosses $2.85 bn in $370 mn in Series E equity round". Business Standard India.
- "Valued at $2.85 billion, Bharat Pe raises fresh $370 million in funding led by Tiger Global". The Financial Express. 5 August 2021.
- Ranjan, Abhinav (10 June 2021). "BharatPe acquires loyalty platform Payback India". www.indiatvnews.com.
- "Ashneer Grover accuses BharatPe co-founder of biggest data theft in India". The Free Press Journal. 9 February 2023.
- "BharatPe nominates Partha Pratim Sengupta to Unity Small Finance Bank board". cnbctv18.com. 19 June 2023. Retrieved 14 August 2023.
External links
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