BharatPe Bags $7 Mn From Trifecta To Expand Its Loan Book
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India, Jan. 20 -- Delhi-based merchant-focused payments platform BharatPe has raised INR 50 Cr ($7 Mn) in from Trifecta Capital, as a part of its plan to raise $700 Mn of debt in the next two years.
BharatPe intends to use this debt to increase its loan book to INR 5,000 Cr ($684 Mn) by 2022 and focus primarily on lending for growth. Founder and CEO Ashneer Grover, in conversation with Inc42, said that the company pent its first two years focussing on product building, getting customers on board, building a team, making merchants aware of the BharatPe system and other aspects of the businesses.
Now with the focus on lending, it will be focusing on scaling up its operations and increasing its userbase to a network of 10 Mn merchants by 2...
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