Fintech firm BharatPe has raised about $10 million (Rs 85 crore) in debt funding from venture debt firms Trifecta Capital and Innoven Capital.
The board of BharatPe has issued 500 Series E1 debentures at Rs 10,00,000 each and 3,500 Series F1 debentures at Rs 1,00,00 each to raise the aforementioned amount, Entrackr reported citing the company’s latest filings with the Registrar of Companies (RoC).
Trifecta pumped in Rs 50 crore while Innoven Capital participated with Rs 35 crore, the report said.
Founded in 2018, BharatPe reportedly closed a $100-million debt round earlier this year. Before that, it had raised $27 million in debt funding from IIFL Wealth & Asset Management, as well as Northern Arc Capital.
BharatPe has raised over $583 million in equity till date. The company’s investor roster includes Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo, and Sequoia Capital (now Peak XV Partners), per its LinkedIn profile.
BharatPe competes with apps such as SoftBank’s Paytm and Google Pay in India’s booming online payments market.
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