You are here: Home » Companies » News
Business Standard

BharatPe facilitates Rs 1,000 crore loan disbursal in fiscal 2021

The firm said it has already surpassed its target of facilitating disbursal of Rs 1,000 crores of business loans to its merchant partners

bharatpe | loans | Fintech

IANS  |  New Delhi 

BharatPe (Photo:

services company on Friday said it has already surpassed its target of facilitating disbursal of Rs 1,000 crores of business in FY 2020-21, to its merchant partners.

While stating that it has enabled to over 1.1 lakh merchants across over 75 cities in India, said it is likely to end up facilitating disbursals of Rs 1,250 crores in FY 21.

Some of the top performing cities and areas today for the lending business include Delhi-NCR, Bengaluru, Hyderabad, and Pune.

Also, the top categories for were groceries, food and beverages, and fashion, retail and beauty.

"We have set ourselves a target of enabling credit for 10 lakh small merchants and kirana store owners in FY22, totalling up to $1bn in disbursals," Suhail Sameer, Group President, BharatPe, said in a statement.

"We believe that the next level of growth for our lending business will be driven by merchants in the tier-2, 3 and 4 towns and cities," Sameer said, adding that the company is working on expanding its lending portfolio and will be offering a host of secured and unsecured lending products for merchants as well as distributors and wholesalers in the new fiscal.

recently announced that it has raised $108 mn in Series D equity round, at a valuation of $900 mn.

The round was led by the company's existing investor Coatue Management.

All seven existing institutional investors participated in the round -- Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital.



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, February 26 2021. 16:37 IST