BharatPe - Bringing Happiness To You Offline

Purbalee Dutta Purbalee Dutta
Jul 29, 2021 10 min read
BharatPe - Bringing Happiness To You Offline

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by BharatPe.

Suffering from code-based payments? At times servers go down and you are unable to do your payment, right? Our retailers and businessmen are often suffering from this matter I suppose. Payment methods are always hard for a few to perform and at times easy as well when you know everything about the matter.

Anyway now you all got no worries because BharatPe enterprise is always with you to make your payments easy by using a single interface for all UPI apps. Read the BharatPe success story below. I assume you all will be coming out with various solutions to your problems.

Company Highlights

Startup Name Bharatpe
Headquarters Delhi, India
Sector Fintech
Founders Ashneer Grover and Shashvat Nakrani
Founded April 2018
Website bharatpe.com

BharatPe - About
BharatPe - Founders And Team
BharatPe - How Does It Work?
BharatPe - Business Model
BharatPe - Revenue Model
BharatPe - Funding And Investors
BharatPe - Tagline, Slogan And Logo
BharatPe - Growth
BharatPe - Competitors
BharatPe - Future Goals
BharatPe – Recent News
BharatPe - FAQs

BharatPe - About

BharatPe is a QR code-based payment app for offline businessmen and retailers. The company has its headquarters in New Delhi, but there another BharatPe Bangalore office. The app allows its users to accept UPI payments for free through the BharatPe QR. The app helps its users to sign in immediately and they start receiving the funds in their bank account. They started with a mission to make payments free for all its users. Its intention is to help all.

BharatPe - Founders And Team

BharatPe founders are Ashneer Grover and Shashvat Nakrani.

Ashneer Grover is the CEO and the founder of BharatPe. He is a graduate from the Indian Institute of Technology, Delhi. He is from South Delhi, India. He was once the new head of new business at PCJ. He headed Corp Dev for Amex India. He also built Grofers business out as CFO.

Shashvat Nakrani is the co-founder of BharatPe. He is an IITD dropout. He has got a bachelor's degree in Textile Technology from the Indian Institute of Technology, Delhi. Batch - 2015-19. He has got 193 followers on Twitter and 239 followers. His hometown is at Bhavnagar, India.

Bharatpe Founders
Shashvat Nakrani (left) and Ashneer Grover (right) 

BharatPe - How Does It Work?

As you all know almost all of the merchants spend more time on the app BharatPe. By only this way the company increases its amount to about $2000. Lending businesses are always crucial no matter it's small ones or big ones. So BharatPe's lending business is also crucial like the others.

It operates an eponymous service to help all offline merchants. Β But such kind of payment apps nearly makes no money by enabling free transactions on their platforms. Those processing UPI payments can not even charge a small commission to merchants. The BharatPe login and interface is also easy to use. BharatPe credit card can also be created after the merchant. account


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BharatPe - Business Model

As everyone knows, especially the merchants, BharatPe business is different Indian payments free company that is serving offline retailers and businessmen/women. They accept payments from 100+ mobile apps downloaded in the Indian mobiles on India's UPI system by offering businesses a single interoperable QR sticker.

The QR can be scanned by and then payments are accepted from all renowned mobile apps such as PayTm, WhatsApp, Mobikwik, Amazon Pay, BHIM, Google Pay, Freecharge and True Caller. Retailers also get immediate credits for transactions made in their bank accounts on the same day. So now you know each one has got its own unique way of running their businesses.

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BharatPe - Revenue Model

The BharatPe revenue model depends on providing its consumers with a digital payments platform and also has got a separate app for its merchant friends where the company credits them for their transactions digitally as mentioned above. It actually sails for providing credits to the merchants with cheaper interests.

The company counts on the interdependent cyclical connection of credit and application usage to boost the revenue on its platform. For a startup company like BharatPe it's important for them to focus especially on the merchant side of their business.

BharatPe - Funding And Investors

BharatPe funding is currently at the total amount of $640 Million in over 8 rounds. The company is looking to raise Rs 1,300 crores in debt, which seems to be the largest debt round for an Indian startup this year.

Recently in July 2021, the media reported that BharatPe was going to become the next Indian Unicorn. BharatPe is close to getting an investment of $350 million from Tiger Global Management LLC along with other existing investors like Coatua Management and Ribbit Capital. The New York-based venture capital firm Tiger Management is said to invest over $100 million. With this, the fintech startups valuation is said to increase more than $2 billion.

Date Transaction Name Money Raised Lead Investors
August, 2021 Series E $350 million Tiger Global Management LLC, Coatua Management and Ribbit Capital
May 10, 2021 Debt Financing $6.7 million Northern Arc
February 11, 2021 Series D $108 million Coatue Management
January 6, 2021 Debt Financing $33.5 million Alteria Capital, Innoven Capital and Trifecta Capital
February 24, 2020 Series C $75 Million Coatue and Rabbit Capital
June 4, 2019 Series B $50 Million Insight Partners, Rabbit Capital
February 21, 2019 Series A $14.5 Million Sequoia Capital India
October 1, 2018 Seed Round $2 Million BEENEXT and Sequoia Capital India

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The tagline of the company is 'Ab se Dukandar is king'. It also says 'Apne Parivar Aur Shop Ko Rakhe Insured. It has launched India's first UPI Bahi Khata for merchants. It's the first Fintech startup in India enabling merchants to pay offline. The BharatPe logo is the Β property of the trademark owners.

BharatPe logo
BharatPe logo

BharatPe - Growth

The BharatPe news and recent studies say that the company is growing rapidly and presently it's the 4th largest player in the UPI portion after Google Pay, PhonePe and PayTm. And the company has achieved this growth by spending very little money on it. BharatPe is in the 3rd spot in the private POS category. The platform has introduced Β the digital gold product on its platform for merchants in association with Safegold which is called BharatPe Gold scheme.

It had launched BharatSwipe, its disruptive card payment acceptance machine in the latter half of 2020. BharatSwipe is a zero rental Swipe machine, which is the first of such systems that India has seen, and therefore, it received an overwhelming response right from its inception. The overall business of BharatPe received a huge boost with the introduction of BharatSwipe.

Furthermore, it has also helped the company scale up its business rapidly, and contribute around 20% to the overall payments Transaction Processed Value (TPV) of the company. BharatPe has installed over 1 lac BharatSwipe machines across 16 cities in the country that supports transactions of over Rs. 1400 crores every month. Furthermore, it has also received an overwhelming response from small merchants across segments including Kirana store owners, restaurant owners, and entrepreneurs with 4-5 outlets.


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BharatPe - Competitors

BharatPe competitors are Mamo Pay, PayTm, PhonePe, Lunar, albo and eXPO.

Let's look into the few comparisons below -

BharatPe vs albo

  • BharatPe is a fintech company that operates a QR based payment app for offline retailers and businesses headquartered in New Delhi with Twitter followers of 4.4k whereas albo is a mobile banking app that helps it's users to manage their money headquartered in Mexico with Twitter followers of 4.9k.

BharatPe vs PhonePe

  • BharatPe did merchant transactions worth $76 million and PhonePe did it at worth $1 billion including UPI and cards.
  • PhonePe thinks that BharatPe did cheat their name and they went to the court about the matter. The case is still on. Researches say that BharatPe is better than PhonePe especially due to their QR code payment system.

BharatPe vs PayTm

  • BharatPe and PayTm both are having almost the same features. They both provide loans after the users complete a certain amount of transaction limit. Both are fully loaded with certain sorts of interesting features which attracts people a lot. PayTm often gives different kinds of offers such as buy 1 get 1 free, etc. Experts say that PayTm is way better than BharatPe because it has got few complaints than what BharatPe has.

BharatPe - Future Goals

The company desired something new and this year they launched a button named Paisa Bolega. This button converts the shopkeeper's phone into a loudspeaker, announcing the value of the transaction received loudly. Within the end of this year, the company desires to disburse around Rs. 700 crores.

They say that there will be rising demands of the shopkeepers so this is their further plan. The company also disbursed around Rs 140 crores recently. The founder of the company says that there has been no development in the loan demand of the shopkeepers recently and so they plan to move forward with it and they think that rental payments and stocking up for inventory payments will soon rise.

BharatPe announced its future plans of scaling up its POS business via a PR dated July 15, 2021. BharatPe, which now stands 3rd when it comes to private POS solutions, plans to expand its POS business, BharatSwipe by 3x. Eyeing growth, BharatPe is aiming to reach $ 6bn in annualized TPV by the end of FY22. The company is further looking to widen its overall reach by 5x and make BharatSwipe popular across 80 cities in India by the end of the next financial year.

BharatPe – Recent News

29th July 2021 - According to the recent news, BharatPe has become the first fintech startup to win a rare Small Finance Bank (SFB) licence from the Reserve Bank of India (RBI). This un-named SFB will be a 50 – 50% partnership between BharatPe parent company Resilient Innovations and Cetrum Finance. The fintech company is said to use this sought after SFB licence to launch BharatPe merchant focussed bank in the next three to four months, which is the first in the country.

The company is also planning to launch huge range of products in the merchant and consumer lending space. Which is why BharatPe hiring more than 100 employees for its tech team by March 2022. Apart from that, it also announced its first Referral and Joining Policy, under which it will offer incentives to both new employees and the existing employees who will refer new capable employees to the company.

These incentives are said to include gadget, appraisal and perks. While the new 100 engineers who will be hired to build the next-generation banking will also be offered incentives and BharatPe gifts like BMW superbikes and iPad Pros, among other luxury goods. This way the company is aiming to strengthen its tech team.


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BharatPe - FAQs

What is BharatPe app?

A pioneer in UPI payments and digital money lending for merchants. It is a payment solution application exclusively designed for merchants that can accept payments from any UPI payment app through a single BharatPe QR Code.

Who are BharatPe founders?

BharatPe founders - Ashneer Grover and Shashvat Nakrani.

Is BharatPe a government company?

No. BharatPe is a private fintech company.

Who is the owner of BharatPe?

The owner of BharatPe is Ashneer Grover.

What is BharatPe Balance?

BharatPe Balance gives the user information on their daly QR collections, balance in investment account and their available loan limit.

How does BharatPe earn money?

BharatPe processes loans worth about β‚Ή300 crore each month.

Is BharatPe safe to invest in?

Yes, it is safe to invest in BharatPe, as a lot of people use on their daily basis.

Is BharatPe Profitable?

BharatPe is Profitable as achieved $1 Billion of Total Purchase Value (TPV) every year and also facilitates over 18 Million UPI transactions monthly.

How to delete BharatPe account?

To delete BharatPe account the user can go to setting and select the deactivate account option.

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