Fintech startup BharatPe raises Rs 60 crore debt from InnoVen Capital

CHENNAI:

Fintech

payments platform

BharatPe

has raised Rs 60 crore in debt funds from venture debt platform

InnoVen Capital

.

BharatPe is a payments platform offering merchants a single interface for all existing UPI apps and allowing them to accept UPI payments for free through the BharatPe QR. It also supports merchants to access credit and other value-added services.

“As we build the lending business at BharatPe, raising institutional debt is important for us. We plan to raise US$ 500-700 million of debt capital over the next 2 years," Suhail Sameer, group president, BharatPe, said.

InnoVen Capital said the investment underlines their commitment to back promising companies disrupting respective categories.

“We are excited to partner with BharatPe as their first institutional debt provider. BharatPe is not only helping millions of merchants to accept UPI payments seamlessly but also enabling them access to credit, which has been a pain point," Ashish Sharma, CEO, InnoVen Capital India, said.


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