“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 two years. We are incredibly glad that Innoven Capital is our first supporter on this journey. We look forward to working with Innoven to build a long-term win-win relationship,” Suhail Sameer, Group President, BharatPe, said.
Launched in April 2018 by Ashneer Grover and Shashvat Nakrani, BharatPe is a merchant focused payments platform that offers merchants a single interface for all existing UPI apps and allows merchants to accept UPI payments for free through the BharatPe QR. It also supports merchants to access credit and other value-added services.
The New Delhi-based company had last raised nearly $75 million in February 2020 as part of a Series C round led by New York-based hedge fund Coatue Management and Palo Alto-based Ribbit Capital.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India from January 3-6, 2021.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|BharatPe||Delhi||8.2 million||Debt||InnoVen Capital||-||Financial Services||FinTech|
|Udaan||Bengaluru||280 million||-||-||Lightspeed Venture Partners, DST Global, GGV Capital, Altimeter Capital, Tencent, Octahedron Capital, Moonstone Capital||Retail||E-commerce|
|CropIn||Bengaluru||20 million||Series C||ABC World Asia||Chiratae Ventures, Invested Development, Ankur Capital, CDC Group, Kris Gopalakrishnan’s family office Pratithi Investment Trust||Software||AgTech|
|Pocket Aces Pictures||Mumbai||2.3 million||Debt||Stride Ventures||-||Media||Digital Media|
|Zerone Microsystems||Gurugram||1.3 million||Pre-Series A||Indian Angel Network||IAN Fund, The Chennai Angels||Financial Services||FinTech|
|Devic Earth||Bengaluru||1.36 million||-||Blue Ashva Sampada Fund||-||Electronics||CleanTech|
|Kyt||Bengaluru||5 million||Series A||Alpha Wave Incubation||Sequoia Capital India’s Surge, January Capital, Titan Capital||Education/Training||EdTech|
|Samunnati Financial Intermediation and Services||Chennai||6 million||Debt||FMO||-||Financial Services||FinTech|
|NeoGrowth Credit||Mumbai||10 million||Debt||FMO||-||Financial Services||Fintech Lending|
|B9 Beverages||Delhi||30 million||Corporate||Kirin Holdings||-||Food||-|
|Nazara Technologies||Mumbai||68 million||Secondary||Plutus Wealth Management||-||Software||eSports|
|boAt||Delhi||100 million||Private Equity||Warburg Pincus||-||Electronics||E-commerce|