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Fintech Unicorn: BharatPe Raises $370 Million to Transform Indian Digital Payments Ecosystem

Fintech Unicorn: BharatPe Raises $370 Million to Transform Indian Digital Payments Ecosystem

One of Asia’s biggest digital payments company BharatPe has announced its latest funding. BharatPe raised $370 Million in a latest Series E funding round that took its total evaluation to $2.85 billion. This round of investments was led by Tiger Global.

BharatPe earned its unicorn status following back-to-back rounding rounds this year. It leaped into the league of Indian tech unicorns, becoming 2021′ 19th company to do so. Last year, the Indian tech ecosystem had 11 companies in the same unicorn group.

India is quickly becoming the center of Fintech adoption and innovations. It is among the biggest markets for fintech apps for digital payments and digital banking. In July 2021, UPI recorded close to 3.24 billion transactions, almost half of the world’s global population.

The latest announcement comes within days of Indian Prime Minister Narendra Modi launching a new voucher-based digital payment system, e-RUPI.

We covered the latest e-RUPI news here.

BharatPe currently offers digital payments and QR code scanning services across all leading digital wallets platforms. Users can avail additional services like loan and banking transactions in addition to a QR code scanning.

BharatPe is currently backed by investors such as Sequoia, Beenext, Insight Partners, Ribbit Capital and others.

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