Payments firm BharatPe raises $8.2m from InnoVen and 11 more India deal updates

Digital payments startup BharatPe has raised about $8.2 million (Rs60 crore) from venture debt firm InnoVen Capital, per an announcement on Wednesday.

“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.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
BharatPeDelhi8.2 millionDebtInnoVen Capital-Financial ServicesFinTech
UdaanBengaluru280 million--Lightspeed Venture Partners, DST Global, GGV Capital, Altimeter Capital, Tencent, Octahedron Capital, Moonstone CapitalRetailE-commerce
CropInBengaluru20 millionSeries CABC World AsiaChiratae Ventures, Invested Development, Ankur Capital, CDC Group, Kris Gopalakrishnan’s family office Pratithi Investment TrustSoftwareAgTech
Pocket Aces PicturesMumbai2.3 millionDebtStride Ventures-MediaDigital Media
Zerone MicrosystemsGurugram1.3 millionPre-Series AIndian Angel NetworkIAN Fund, The Chennai AngelsFinancial ServicesFinTech
Devic EarthBengaluru1.36 million-Blue Ashva Sampada Fund-ElectronicsCleanTech
KytBengaluru5 millionSeries AAlpha Wave IncubationSequoia Capital India’s Surge, January Capital, Titan Capital Education/TrainingEdTech
Samunnati Financial Intermediation and ServicesChennai6 millionDebtFMO-Financial ServicesFinTech
NeoGrowth CreditMumbai10 millionDebtFMO-Financial ServicesFintech Lending
B9 BeveragesDelhi30 millionCorporateKirin Holdings-Food-
Nazara TechnologiesMumbai68 millionSecondaryPlutus Wealth Management-SoftwareeSports
boAtDelhi100 millionPrivate EquityWarburg Pincus-ElectronicsE-commerce

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.