InvestorQ : Can you tell me about the plans of Fintech Start-up, Bharat Pe, to raise $500 million?
Neelam Naik made post

Can you tell me about the plans of Fintech Start-up, Bharat Pe, to raise $500 million?

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Anu Biswas answered.
6 months ago
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Bharat Pe plans to raise funds in the region of $150 million to $200 million in equity funding and another $500 million as debt. Bharat Pe is an alternate payments and lending platform. It may be recollected that Bharat Pe had raised $75 million in Feb-20 as Series-C round funding from Coatue and Ribbit Capital. This deal values Bharat Pe at $1 billion.

The company will use the debt to bolster lending operations with new products and enter new retail segments. The debt is being raised from international banks with a view to creating an India-focused credit fund to participate in distressed assets. It will also be launching its own “distributor to retail” wholesaler financing product.

The average credit line ticket size to distributors will be around Rs.50 lakhs with a condition that loans to retailers should not exceed Rs.1 lakh for a 30-day period. It has a much lower burn rate of $3 million per month. It has also bid for PMC Bank, jointly with Centrum.

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