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BharatPe Reviews

New Delhi

4.5/ 5

2 reviews

BharatPe is a prominent Indian fintech company that specializes in providing digital payment solutions and comprehensive financial services tailored for small merchants, grocery stores (kirana shops), and micro, small, and medium enterprises (MSMEs). Co-founded in 2018 by Ashneer Grover and Shashvat Nakrani with a vision to drive financial inclusion across India, the company operates under its legal parent entity, Resilient Innovations Private Limited. It is headquartered in Gurugram, Haryana. The company has positioned itself as a critical financial partner to over 17 million merchants across more than 400 cities nationwide. The company's initial breakthrough in the Indian fintech landscape came in 2018 with the launch of the country’s first interoperable Unified Payments Interface (UPI) Quick Response (QR) code with zero Merchant Discount Rate (MDR). This innovative solution allowed offline merchants to accept digital payments from any UPI application completely free of charge, acting as a major catalyst for pulling small businesses into the digital economy. Following this success, BharatPe expanded its hardware offerings in August 2020 by introducing BharatSwipe, a zero-rental Point of Sale (POS) machine that quickly established the company as one of the top private POS operators in the country. To further facilitate merchant operations, the company launched the BharatPe Speaker in February 2022, providing real-time voice alerts for successful transactions in multiple regional languages. Beyond payment processing, BharatPe heavily addresses the massive credit gap faced by Indian MSMEs through its dedicated B2B lending vertical, BharatPe Capital. By deploying proprietary Artificial Intelligence (AI)-backed underwriting algorithms, the company evaluates the cash flows and transaction histories on its network to assess creditworthiness without demanding collateral. In partnership with RBI-approved Non-Banking Financial Companies (NBFCs), BharatPe facilitates customized, unsecured short-term business loans. In addition to merchant services, BharatPe has strategically diversified into consumer fintech. It launched "postpe," a universal Buy Now Pay Later (BNPL) platform, and the "12% Club," an investment-and-borrowing application. Financially, BharatPe operates as a private corporate entity. For the fiscal year 2024, the company recorded an operational revenue of INR 1,700 crore (approximately US$180 million) and posted a positive net income of INR 66 crore. The company has raised roughly US$650 million in equity and debt over several funding rounds, drawing backing from major global venture capital firms including Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, Insight Partners, and Sequoia Capital. Structurally, the firm is steered by its Chairman, Rajnish Kumar (former Chairman of the State Bank of India), and Chief Executive Officer, Nalin Negi, alongside a robust executive team. Through historical expansions, such as the 2021 acquisition of loyalty program operator PAYBACK India and its joint venture establishing Unity Small Finance Bank, BharatPe continues its progression toward building a full-fledged digital banking ecosystem for India’s small business community.