Fintech company BharatPe has raised Rs 85 crore in debt through non-convertible debentures. This is the second debt taken by the Peak XV and Coatue-backed company in 2024. The board at comoany 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 participate with Rs 50 crore while Innoven Capital with Rs 35 crore, shows filing.
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.
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.
Company 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.
visit: gamicaltech.com