Fintech major BharatPe rolls out investment platform 'Invest BharatPe'

Payments and lending fintech BharatPe on Monday announced the launch of its new investment platform, Invest BharatPe, launching digital gold as the first product on the application.

 

The Delhi-based fintech launched digital gold in partnership with Safegold, enabling customers to purchase and sell gold digitally.

 

The app will also include fintech’s lending platform 12% Club. The move comes months after the Reserve Bank of India (RBI) tightened guidelines around peer-to-peer (P2P) lending to a pause in onboarding customers for 12% Club.

 

“The investment platform is in line with our objective of driving financial inclusion for the underserved across the country. During the festive season, a large number of consumers plan and invest in gold, making it the perfect time to introduce this new offering,” said Nalin Negi, chief executive officer (CEO), BharatPe.

 

In August, the company launched secured credit products such as two-wheeler loans and loans against mutual funds (LAMF) for its merchants in partnership with lenders such as OTO Capital and Volt Money.

 

In 2022, the company entered the gold loans segment for its merchants by partnering with non-banking financial companies (NBFCs). The company had said it would offer loans up to Rs 20 lakh against a gold pledge.

 

BharatPe has recorded consolidated earnings before interest, taxes, depreciation, and amortisation (Ebitda) loss to Rs 209 crore in financial year 2024 (FY24), from Rs 826 crore in FY23.

 

The company added that its cash burn was reduced by 85 per cent on a year-on-year (Y-o-Y) basis.

 

The average merchant lending portfolio from loans originated through BharatPe’s platform grew by 40 per cent compared to the previous year.