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Banking & Finance News Stories Technology

India’s startup BharatPe raises a $75M Series C Funding Round

BharatPe, the Indian startup reported a Series C raise of funds amounting to $75 million, looking to extend its presence in India

BharatPe is a QR code-based payment app for offline retailers and businesses. It allows merchants to accept Unified Payments Interface (UPI) payments for ‘FREE’ through the BharatPe QR.

BharatPe QR App featured image
BharatPe QR App (Credits: linkedin.com)

Led by Coatue Management – a global investment manager focused on public and private companies in the technologies, media and telecommunications, and existing investor Ribbit Capital, the new funds will be used for the extension and further development of the company. BharatPe currently offers payment acceptance simple by offering merchants a single interface for all UPI apps such as Paytm, PhonePe, Google Pay, BHIM, Mobikwik, Freecharge, True Caller and hundreds of their UPI apps.

BharatPe, only a one-and-a-half-year-old company quickly escalated and build its own path in India. The startup reported a raise of $50 million in Series B in August last year. It has become the second-largest internet market, claiming more than 500 million users.

Based in New Delhi, India, BharatPe’s main intention is to be a one-stop business utility app for all offline merchants in India for all their business needs, with ‘no charges at all’.

Joining Coatue Management as a new investor is Amplo, a global venture capital firm helping build companies that matter. Existing investors like Steadview Capital and Insight Partners also participated in the said round, bringing BharatPe’s total raised to $140 million to date.

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