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Northern Arc Capital Syndicates €10 Mn Debt Facility For Fusion Microfinance
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[Funding alert] BharatPe raises Rs 50 Cr in debt from Northern Arc
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Through the pandemic in 2020 and 2021, BharatPe has continued to support the credit requirements of its merchant partners and has emerged as one of the largest B2B
fintech lenders in the country. Having facilitated disbursals of over Rs 1,600 crore ($ 230 million) to more than two lakh merchants since the launch of the lending vertical, BharatPe aims to disburse Rs 14,000 crore ($ 2 billion) in business loans by March 2023.
Northern Arc has been at the forefront of fighting the economic and social impact of the pandemic. It has directly disbursed over Rs 3,500 crore ($ 500 million) over the last financial year to MSMEs, households, financial institutions and mid market corporates. It has also enabled flow of financing of over Rs 1,000 crore ($ 150 million) from various development financial institutions from across the world to underbanked small businesses and households.
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BharatPe supports the credit requirements of its merchant partners. Having facilitated disbursals of over Rs 1,600 crore to more than 2 lakh merchants since the launch of the lending vertical, BharatPe aims to disburse Rs 14,000 crore in business loans by March 2023. We are committed to bridge the credit gap for SMEs (small and medium enterprises) and small merchants in the country,” Suhail Sameer, group president at BharatPe, said Monday. “We have considerably ramped up our lending business in the last year and have set an ambitious target of facilitating disbursals of $1 billion to 10 lakh merchants by the end of current fiscal.”
BharatPe raises Rs 50 crore debt from Northern Arc; sixth debt fund raise in 2021
BharatPe raises Rs 50 crore debt from Northern Arc; sixth debt fund raise in 2021/ Representational Image
BharatPe raised Rs 50 crore ($ 7 million) in debt from Northern Arc Capital, a digital debt finance platform that is focused on improving access to finance for under-served businesses and individuals in India. This is the sixth round of debt financing for BharatPe in the year 2021.
The company had raised Rs 200 crore ($ 26 million) from three top debt companies in the country - Alteria Capital, InnoVen Capital and Trifecta Capital in January 2021. The company had later raised additional capital from ICICI Bank and Axis Bank.
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