 | |
| Type of business | Private |
|---|---|
Type of site | Financial service |
| Available in | Multilingual |
| Founded | 2018; 8 years ago (2018) |
| Headquarters | New Delhi, |
| Area served | India |
| Founder(s) | Ashneer Grover Shashvat Nakrani Bhavik Koladiya |
| Chairman | Rajnish Kumar |
| Key people | Nalin Negi (CFO) Ankur Jain (CPO) Aparna Kuppuswamy (CRO) Ajit Kumar (CTO) Parth Joshi (CMO) |
| Industry | Internet E-commerce |
| Services | UPI payments and digital money lending for merchants |
| Revenue |  ₹1,700 crore (US$200 million) (FY24)[1] |
| Net income | ₹66 crore (US$7.8 million) (FY24) |
| Parent | Resilient Innovations Private Limited |
| URL | bharatpe |
| Commercial | Yes |
| Registration | Required |
| Current status | Active |
BharatPe is an Indianfintech company that sells digital payment andfinancial services to small merchants andGrocery stores.[2][3][4][5]
According to Peerzada Abrar ofBusiness Standard, "BharatPe was founded in 2018 by Ashneer Grover and Shashvat Nakrani, with the vision of making financial inclusion a reality for Indian merchants."[6]
In 2021, the company acquired Payback India, a "multi-brand loyalty programme".[7][8]
In April 2024, BharatPe elevated Nalin Negi as its CEO, 15 months after he took over as the interim CEO and CFO in January 2023.[9]
On 20 August 2024, BharatPe announced extending its credit offerings for its merchants to secured loans. The company will now enable secured two-wheeler loans and Loans Against Mutual Funds (LAMF) through lending partners OTO Capital for two-wheeler loans and Volt Money for LAMF.[10][11]
In 2023 Ashneer Grover, who had 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.[12]In November 2023, BharatPe filed a petition against Ashneer Grover for allegedly disclosing confidential information.[13] BharatPe announced on Sep 30 2024 that it had reached a settlement with him. Under this agreement, a portion of his shares will be transferred to the Resilient Growth Trust. Both sides have consented to refrain from any legal proceedings as part of the settlement.[14]
BharatPe has a stake in Unity Small Finance Bank.[15]
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In October 2021 BharatPe launched the country's first BNPL (Buy Now Pay Later) product.[5]
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