Fintech BharatPe has raised 100 crore in debt from MAS Financial Services. “This is the eighth debt fundraiser for the company in 2021. BharatPe has raised a total of over 600 crore in debt at competitive rates this calendar year,” he said on Monday. in a press release.
“Our recent debt increases will give us the raw material to build our merchant lending vertical more aggressively. BharatPe is one of the largest B2B fintech lenders in India today, facilitating loan disbursements of over 300 crore to offline merchants each month, ”said Suhail Sameer, CEO of BharatPe.
Nishit Sharma, chief revenue officer of BharatPe, said the company is on track to build a $ 1 billion loan portfolio by March 2023 for its lending partners. “We will continue to raise debt and explore partnerships with Indian and international investors, including banks, NBFCs, major pension funds, credit funds as well as development finance institutions,” he said. declared.
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BharatPe said it has facilitated the disbursement of over $ 400 million in unsecured loans to more than three lakh traders since the launch of its loan product.
The company said it remains optimistic about its lending vertical.
BharatPe had already raised seven rounds of debt financing in 2021, having secured over 500 crore from leading venture capital funds including Alteria Capital, InnoVen Capital and Trifecta Capital, from banks such as ICICI Bank and Axis Bank, NBFC like Northern Arc Capital and wealth management. companies such as IIFL Wealth and Asset Management in previous rounds.