BharatPe's valuation crosses $2.85 bn in $370 mn in Series E equity round

The funding would help the firm compete and take on players such Pine Labs, Paytm and Mswipe

BharatPe, the leading financial services company for merchants, said on Wednesday that it has raised $370 million in a Series E equity round, at a post-money valuation of $2.85 billion. The primary component of the round is $350 million and the secondary component is of $20 million. All employees holding vested employee stock ownership plan (ESOPs) have been given full liquidity in the secondary component.

The funding makes Delhi-based BharatPe the latest entrant to the coveted unicorn club. It was valued at about $900 million in its Series D round in February this year, and $425 million last year.

The new round,