BharatPe, the visionary fintech powerhouse dedicated to driving financial inclusion for Indian merchants, proudly announces a significant funding milestone, having raised ₹600,000,000. Established in 2018, BharatPe has rapidly reshaped the payments landscape, introducing innovations like India’s first UPI interoperable QR code and the zero MDR payment acceptance service—solutions that have empowered merchants across the country. The company’s groundbreaking approach continued in 2020 when it launched BharatSwipe, India’s only zero MDR card acceptance terminal, well-timed in the post-Covid era. Today, serving over one million merchants in more than 400 cities, BharatPe stands as a leader in UPI offline transactions, processing annualized transaction values of approximately US$26 billion and cementing its crucial role in facilitating accessible, hassle-free payments.
This latest infusion of funds is set to accelerate BharatPe’s mission further. The capital will be strategically allocated to expanding its product suite, enhancing technological infrastructure, and scaling operations to meet the increasing demands of a rapidly digitizing economy. In addition, the funding will enable BharatPe to deepen its engagement with some of India’s most underserved merchant segments, thereby broadening financial access and empowering small businesses to thrive. With an impressive track record that includes facilitating loans worth over ₹10000 crores since its inception, BharatPe’s continued growth is underscored by its strong investor backing from marquee names such as Tiger Global, Dragoneer Investment Group, Coatue Management, and Sequoia Capital (now Peak XV Partners), among others. This funding announcement marks another pivotal chapter in BharatPe’s journey towards transforming India’s payment ecosystem and achieving its vision of widespread financial inclusion.
