24, February, 2024
HomeBusinessBharatPe Achieves Ebitda Milestone, Surpasses Rs 1,500 Crore Annualised Revenue

BharatPe Achieves Ebitda Milestone, Surpasses Rs 1,500 Crore Annualised Revenue

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In November, BharatPe proudly announced its positive Ebitda status, marking a significant milestone in its financial performance. The fintech unicorn reported an impressive annualised revenue of Rs 1,500 crore, witnessing a remarkable 31% surge compared to the previous year.

Read Also | BharatPe Initiates Legal Action Against Ashneer Grover Over Confidentiality Breach

Driven by substantial growth in its lending and payments sector, BharatPe notably reduced its monthly expenditure to achieve this positive Ebitda. Nalin Negi, CFO and Interim CEO, attributed this success to the trust of their extensive network of over 1.3 crore merchant partners, emphasizing their robust growth in facilitating loans during October.

The fintech giant’s impressive financials were further exemplified by its loan facilitation exceeding Rs 640 crore in partnership with NBFCs, showing a commendable 36% year-on-year growth. Since its inception in late 2019, BharatPe has facilitated loans exceeding Rs 12,400 crores, underscoring its significant presence in the lending domain.

Additionally, BharatPe registered a monthly Total Payments Volume (TPV) crossing Rs. 14,000 crores in October, reaffirming its strong position in the payment products arena.

Looking ahead, Negi emphasized their focus on scaling lending, POS, and soundbox businesses while launching tailored products for merchant partners. With a network extending across 1.3 crore merchants in over 450 cities, BharatPe remains a key player in offline UPI transactions, processing more than 370 million transactions annually.

This financial upswing sets BharatPe on a trajectory for a potential public listing, marking a turnaround after the internal disruptions faced in 2022. The company’s strategic board expansions, regulatory compliances, and robust governance framework position it as a strong contender in the fintech market.

Read Also | Byju’s Reports Impressive Growth in Standalone Revenue for FY22

Noteworthy investors like Ribbit Capital, Coatue, Insight Partners, and Peak XV Partners have fueled BharatPe’s growth, expressing confidence in its trajectory toward becoming a public entity. Harshjit Sethi, MD at Peak XV, acknowledged BharatPe’s strategic strides and robust execution, setting the stage for its future as a public company.

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