BharatPe raises Rs 60 crore in debt financing from Innoven Capital

Digital payments startup BharatPe has picked up Rs 60 crore in debt financing from Innoven Capital, a venture debt firm, as part of its plan to raise $ 500-700 million of debt capital over the next two years to aid its lending business.

“As we build the lending business at BharatPe, raising institutional debt is important to us. We plan to raise $500-700 million of debt capital over the next 2 years,” said Suhail Sameer, Group President, BharatPe.

The Delhi-based fintech also announced the appointment of Sumeet Singh as the General Counsel and Head- Corporate Strategy. The company specialises in onboarding merchants with QR codes and has facilitated loan disbursement of over Rs 500 crore to its merchants.


Meanwhile, Ashish Sharma, the CEO of Innoven Capital India, said the massively underpenetrated credit market aided by BharatPe’s reach makes for a good proposition. “We are excited to partner with BharatPe as their first institutional debt provider…This is a massive market and we look forward to being a partner in BharatPe’s ambitious growth agenda,” Sharma added.