Photo: Screen of BharatPe app on GooglePlay
August 4, 2021
Merchant payments and financial services provider BharatPe has raised $370 million in a primary and secondary mix, as a part of a Series E funding round led by new investor New York-based Tiger Global Management.
Other new investors include Dragoneer Investor Group and Steadfast Capital, who have participated as a part of this round.
The round makes BharatPe the latest entrant to India’s growing list of unicorn startups, with its valuation rising more than threefold to $2.85 billion in six months. The company had raised $108 million in February this year at a valuation of $900 million.
BharatPe Enters Unicorn Club; Raises $370 Mn At $2.85 Bn Valuation
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BharatPe is the fifth fintech startup to achieve unicorn status this year
BharatPe’s valuation almost tripled from $900 Mn in February 2021 to $2.85 Bn
New Delhi-based merchant payments and financial services provider – BharatPe– is the latest entrant to the coveted unicorn club in India, after it bagged $370 Mn in Series E equity round led by Tiger Global at valuation of $2.85 Bn. Dragoneer Investment Group and Steadfast Capital have come on board as new investors, while Coatue Management, Insight Partners, Sequoia Growth, Ribbit Capital, and Amplo added to their earlier investments in BharatPe.
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Send BharatPe on Wednesday said it has raised USD 370 million (about Rs 2,745.8 crore) in funding, led by Tiger Global that has pushed the merchant payment and lending service provider s post-money valuation to USD 2.85 billion.
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The series E round included a secondary component of USD 20 million, a statement said.
Staff holding vested employee stock option plan (ESOPs) have been given full liquidity in the secondary, it added. The round, led by Tiger Global, also saw new participation from Dragoneer Investment Group and Steadfast Capital, the statement said.
Five out of the seven existing institutional investors participated in the round - namely Coatue Management, Insight Partners, Sequoia Growth, Ribbit Capital and Amplo, it added.