BharatPe, a Fintech firm, has confirmed that it has raised US$108 million in its new round of funding, estimated at US$900 million.
The company also announced that it raised US$ 90 million in primary fundraising and also negotiated a secondary exit for its angel investors and workers for a combined amount of US$ 18 million.
Here are 5 must-know details about this funding round:
1) The round was led by the current investor Coatue Management of the firm. All seven existing institutional investors invested in the round-Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital.
2) With this round, the company has raised a total of US$268 million in equity and debt to date.
3) The D Series round has been oversubscribed within the last two weeks of December 2020. In the Series D round, the company's current institutional investors expressed their aim to consolidate the cap table and thus gave BharatPe the chance to liquidate all angels and ESOP buyers.
4) Last month, the company revealed that it had raised Rs 249 crores (US$ 35 million) in debt from all 3 esteemed venture debt suppliers.
5) BharatPe raised Rs 50 crores in debt from Trifecta Capital, Rs 90 crores in debt from Alteria Capital, Rs 60 crores from InnoVen Capital, and Rs 49 crores from ICICI Bank.
BharatPe facilitates over Rs 200 crores of loans to its merchant partners each month through its NBFC partners. It has installed more than 50,000 PoS machines and facilitates transactions of more than Rs. 900 crores each month on PoS machines.
In 2018, Ashneer Grover and Shashvat Nakrani co-founded BharatPe with the vision of making financial inclusion a reality for Indian merchants.