BharatPe Secures $173M in Funding to Drive Financial Inclusion for Indian Merchants

BharatPe, a trailblazer in transforming financial inclusion for Indian merchants since its inception in 2018, has successfully raised $17.3 million in its latest funding round. Renowned for pioneering India’s first UPI interoperable QR code and launching the zero MDR payment acceptance service, BharatPe continues to lead the charge in providing innovative financial solutions for over 1 million merchants across more than 400 cities. This fresh capital infusion will significantly bolster its initiatives to enhance payment processing capabilities as the company strives to further streamline financial services and drive growth in the small merchant segment. Notably, BharatPe has established itself as a dominant player in facilitating UPI offline transactions, boasting an impressive annualized Transaction Processed Value of $26 billion. Additionally, the company's BharatSwipe terminals offer unique zero MDR card acceptance solutions, catering to the growing needs of merchants in the post-COVID landscape. To date, BharatPe has disbursed loans exceeding ₹10,000 crores to its merchants, affirming its commitment to empowering small businesses. With a total equity raised surpassing $583 million and strong backing from premier investors like Tiger Global, Sequoia Capital (now Peak XV Partners), and Dragoneer Investment Group, BharatPe is poised for significant expansion. This funding round marks yet another stride towards achieving the company’s overarching mission: ensuring that every Indian merchant has access to efficient, inclusive, and affordable financial services.