BharatPe gets funding at $2.85 bn valuation, appoints Suhail Sameer as CEO
SECTIONS
Last Updated: Aug 04, 2021, 11:40 AM IST
Share
Synopsis
The fundraising, which pushes BharatPe into the unicorn club, gives the fintech startup capital as it takes over distressed lender PMC Bank with Centrum Financial Services to create a small finance bank.
ETtech
Suhail Sameer, new chief executive officer of BharatPe.
Mumbai | Bengaluru: Online payments startup BharatPe said it has raised $350 million in new funding, which has catapulted its post-money valuation to $2.85 billion, as investors line up to back domestic internet businesses.
The new financing will help the New Delhi-based company enter the fast growing club of Indian unicorns this year, making it the 19th entrant into the group. Unicorns are privately held companies that are valued at $1 billion or more.
India
Bengaluru
Karnataka
Ashneer-grover
Centrum-financial-services
Maharashtra-cooperative-bank
New-york-based-tiger-global
Sequoia-growth
Insight-partners
Coatue-management
Ribbit-capital
Walmart-inc-owned-flipkart