BharatPe lands $108 million in funding led by Coatue Management

Digital payments startup BharatPe has raised $108 million in Series D funding led by Coatue Management, at a valuation of $900 million.

BharatPe's all seven existing institutional investors including Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital participated in the round.

The company said it has picked up $90 million in primary fundraise. With this round, it has raised a total of $268 million in equity and debt to date.


The Series D round got oversubscribed within the last 2 weeks of December 2020, the company said, adding that it gave secondary exit to its angel investors and ESOP holders for a total amount of $18 million.

Ashneer Grover, cofounder and CEO of the company, said: “With the balance sheet well-capitalized - more than $200 million in the bank - we are now going to keep our heads down and deliver $30 billion total payment volume and build a loan book of $700 million with small merchants by March 2023.”

The company’s founder said that in the last 12 months their payments business had grown fivefold and their lending business tenfold.

In January, the business-to-business fintech lender had raised $35 million in debt from Alteria Capital, InnoVen Capital, and Trifecta Capital.

The fintech platform is also in the race to acquire Punjab and Maharashtra Cooperative Bank, and build end-to-end banking as a product for merchants. The platform aims to build a Rs 5,000-crore loan book in two years.