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Exclusive: BharatPe increases its stake in Trillion Loans to 60%

EntrackrEntrackr · 1y ago
Exclusive: BharatPe increases its stake in Trillion Loans to 60%
Medial

Fintech unicorn BharatPe has invested around $8-9 million in its non banking financial (NBFC) arm Trillion Loans and increased its stake in the Mumbai-based firm to nearly 60%, two sources told Entrackr. In May 2023, BharatPe acquired a majority 51% stake in Trillion Loans. The Tiger Global-backed firm also appointed Ravindra Pandey, Nalin Negi and Sabyasachi Senapati to the board of the NBFC firm. The investment appears to be a move for instilling confidence among its external stakeholders, including the lending community and equity holders. “Trillion Loans is now valued at $100 million. BharatPe is planning to fully acquire 100% stake in Trillion NBFC by next 24 months,” said a source who requested not to be named. The person added that BharatPe is also pushing very hard to increase its stake in Unity Small Finance Bank to get more control. Currently, BharatPe owns 49% in Unity SFB whereas Centrum Group owns the remaining 51% stake. Earlier this year, BharatPe raised a larger debt round while Trillion Loans closed a separate debt from Credit Saison. Entrackr exclusively reported the development then. “The investment will enable Trillion Loans to pursue new opportunities, leverage its capital, and operate within comfortable regulatory limits,” said another source who also wished not to be named. BharatPe declined to comment on the story. BharatPe raised its last equity round in August 2021. As per media reports, it was in talks to raise a larger equity round. While the equity funding did not materialize, it has raised multiple debts in the past three years. The company is also likely to be profitable on a consolidated basis in the ongoing fiscal year (FY25). BharatPe’s operating revenue reportedly increased by 16% to Rs 1,370 crore in FY24 while its losses shrank 70% to Rs 270 crore in FY24.

Exclusive: BharatPe set to raise $80-100 Mn pre-IPO round led by Coatue

EntrackrEntrackr · 16d ago
Exclusive: BharatPe set to raise $80-100 Mn pre-IPO round led by Coatue
Medial

Exclusive: BharatPe set to raise $80-100 Mn pre-IPO round led by Coatue BharatPe is in advanced talks to raise $80-$100 million in a pre-IPO round led by Coatue Management, according to two people aware of the matter. This equity funding marks the first such raise in four years for the Delhi-based fintech unicorn. “The round will also see participation from some new and existing investors. This is aimed at strengthening the company’s financial position and setting the stage for an eventual public listing,” said one of the sources, requesting anonymity as the talks are private. As per sources, the investment is being spearheaded by Coatue’s new partner Amit Mukherjee, who has been actively working with BharatPe’s management and board on IPO preparations. Last week, BharatPe’s CEO Nalin Negi also said that the firm will go for a pre-IPO round but ruled out a listing this fiscal (FY26). According to another source, the company wants to ensure consistent profitability before filing draft papers. BharatPe declined to comment on the story while queries sent to Coatue did not elicit an immediate response. BharatPe raised its last equity round in August 2021 when it also entered the unicorn club. It has raised over $650 million in equity and debt from the likes of Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital and others. BharatPe recently claimed that it turned profitable in FY25 with a profit before tax of Rs 6 crore (excluding ESOP costs) on revenues of Rs 1,800 crore. This marks a turnaround for the firm which had been loss-making for several years. The company already achieved a break-even at the EBITDA level (adjusting for employee stock options) during the first nine months of FY25 while its net losses declined to Rs 148.8 crore in the same period. In April, BharatPe’s subsidiary Resilient secured final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This makes BharatPe one of the few Indian fintech companies to hold an NBFC license (through Trillion Loans), a stake in a small finance bank (Unity SFB), and now a payment aggregator license. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.

Exclusive: BharatPe receives $10 Mn debt from Trifecta and InnoVen

EntrackrEntrackr · 1y ago
Exclusive: BharatPe receives $10 Mn debt from Trifecta and InnoVen
Medial

Fintech firm BharatPe has raised Rs 85 crore (approximately $10 million) in debt through non-convertible debentures. This is the second debt infusion in the Peak XV and Coatue-backed company in 2024. The board at BharatPe has issued 500 Series E1 debentures at Rs 10,00,000 each and 3,500 Series F1 debentures at Rs 1,00,00 each to raise Rs 85 crore, its regulatory filing with the Registrar of Companies shows. Trifecta Venture debt pumped in Rs 50 crore while Innoven Capital participated with Rs 35 crore, shows filing. As per Entrackr’s sources, BharatPe completed its $100 million debt round early this year. InnoVen Capital was expected to pump in $60-70 million in BharatPe whereas Credit Saison invested the remaining capital in the Delhi-based company’s NBFC arm Trillion Loans. Debt from Innoven could be a part of the above amount. We have reached out to BharatPe to confirm if their investment is new or existing. Sources close to the fintech firm added that BharatPe chose debt as it is close to break-even and didn’t want to dilute equity. BharatPe raised its last equity round in August 2021 when it also checked into the unicorn club. It has raised over $650 million in equity and debt from the likes of Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital and others. According to TheArch report, BharatPe’s operating revenue increased by 16%, reaching Rs 1,370 crore in FY24, up from Rs 1,029 crore in FY23. The six-year-old company also reported a 70% reduction in losses, bringing them down to Rs 270 crore in the last fiscal year.

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