BharatPe raises Rs 50 cr debt from Northern Arc
By IANS |
Published on
Mon, May 10 2021 14:03 IST |
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Rupee. (File Photo: IANS). Image Source: IANS News
New Delhi, May 10 : Financial services company BharatPe on Monday said it has raised Rs 50 crore in debt from Northern Arc Capital, one of the leading digital debt finance platforms.
This is the sixth round of debt financing in 2021, the company said.
In January, the company had raised Rs 200 crore from three top debt companies in the country Alteria Capital, InnoVen Capital and Trifecta Capital, having later raised additional capital from ICICI Bank and Axis Bank.
Fintech company BharatPe, which is soon expected to become a unicorn, has raised Rs 50 crore in debt from Northern Arc Capital, one of India’s leading digital debt finance platforms 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. In January this year, the company had raised Rs 200 crore from three top debt companies in the country. These included Alteria Capital, InnoVen Capital and Trifecta Capital, having later raised additional capital from ICICI Bank and Axis Bank. Suhail Sameer, Group President, BharatPe said the firm is committed to bridging the credit gap for SMEs and small merchants in the country. The company has considerably ramped up its lending business in the last year.
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BharatPe raises ₹50 crore in debt from Northern Arc Capital
May 10, 2021
Sixth round of debt financing for company in 2021
India s leading merchant payment company, BharatPe, has raised ₹50 crore ($ 7 million) in debt from digital debt finance platform Northern Arc Capital. This is the sixth round of debt financing for BharatPe in 2021.
In January this year, BharatPe raised ₹200 crore (~US$ 26 million) from three top debt companies in the country - Alteria Capital, InnoVen Capital and Trifecta Capital, which was followed by additional fund raising from ICICI Bank and Axis Bank.
In a press release, the Chennai-based NBFC Northern Arc said it has directly disbursed over ₹3,500 crore over the last financial year to MSMEs, households, financial institutions and mid market corporates. It has also enabled a flow of financing of over ₹1,000 crore from reputed Development Financial Institutions from across the world to underbanked small businesses and households. “Northern
Northern Arc Capital, one of the leading digital debt finance platforms.
This is the sixth round of debt financing in 2021, the company said. In January, the company had raised ₹200 crore from three top debt companies in the country Alteria Capital,
InnoVen Capital and
ICICI Bank and
Advertisement We have considerably ramped up our lending business in the last year and have set an ambitious target of facilitating disbursals to the tune of $1 billion to more than 10 lakh merchants by the end of current fiscal (FY22), said Suhail Sameer, Group President, BharatPe. We are excited about our latest capital raise from Northern Arc and are confident that, together, we will be able to transform Bharat and serve the needs of the underserved businesses in India, he added.