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When it comes to code-based payment, it becomes difficult to make make payment whenever the server goes down and due to this several merchants, retailers, customers, as well as may businesses suffer a lot from such issues. So, leaving behind the fuss of code-based payments, BharatPe has come up with digital payments requirements easily as well as is convenient without any kind of hassles.


BharatPe, launched in the year 2018 by Ashneer Grover, Bhavik Koladiya, and Shashvat Nakrani have its headquarters in New Delhi is a digital payment application that helps in money transactions through UPI free of cost which is very effective and beneficial specially for small merchants and kirana stores. BharatPe is a QR-based payment technology by which every one can make any transaction through this app.

Ashneer Grover has one fundamental rule in life. “If you have to do something, do it big, because, if you must do something smaller, it takes an equal amount of effort.” Previously, Ashneer Grover worked in few startup for a pretty long time. Before BharatPe, Ashneer was the CEO of Grofers, a e-commerce grocery platform and he even led the Corp Dev for Amex India. Apart from effortless UPI payments, BharatPe even have Bharat Swipe, a POS machine for card acceptance and small business financing. Further, it provides loans to merchants up to Rs 7 lakhs which can be retained for a time period of 3 to 12 months.


In just three years, Ashneer Grover made BharatPe  one of the India’s biggest fintech startup at a valuation of $2.85 billion after its recent funding round. BharatPe further owns a additional peer-to-peer lending platform called the 12% Club. In the year 2020, BharatPe designed a Digital Gold product which helps its customers in the transaction of 24-carat gold with 99.5 % purity.

This app fueled with effective and efficient QR code payment helps the users to sign in immediately, and within seconds started receiving funds in their bank account. This digital payment app started its journey with the mission to make transactions free for its each and every user. BharatPe has a very innovative and unique business model and due to this uniqueness, it has grown rapidly.

There was a major growth in BharatPe during the pandemic when they designed a smart and effective method in order to expand its market reach. They used UPI to make transaction totally free. BhartPe started offering this service when its competitors were charging fees less than 1.5% and because of this many vendors, merchants and others shifted to BharatPe.

The digital payment company, BharatPe witnessed a 7X growth of its annual revenues, which previously stood at Rs 110 crore in FY2020 and recently witnessed a surge of Rs 700 crore in FY2021. The lending vertical of the company has rapidly increased over the last 1.5 years. The company has already been successful in disbursing over $ 300 million in unsecured loans to more than 2 lakhs merchant or vendors partners, with an incredible loan book of over $ 100 million.

Offering free transactions resulted more people to use this platform, which even did a kind of indirect marketing of BharatPe. As the vendors and merchants shifted to this platform, they started exploring the app in a very useful and great way. BharatPe in created as one-stop solution to all kinds of transactions and even designed several products to offer to the people. As almost every vendors or merchants invest more time on BharatPe, and this is the only way by which the company increases its amount to around $2000. Loaning businesses are always crucial, regardless of being small ones or big one so as the BharatPe lending business.

BharatPe runs an eponymous service that helps and guide all offline merchants, but with this type of payment app almost makes no money by making transactions free. And those who are processing UPI payments can’t even charge a little commission to the merchants. After merchant account BharatPe credit card can also be created. There’s a slogan of the company ‘Ab SE Dukandar is king’ which also states that ‘Ape Pariwar Aur Shop ko rakhe Insured’. BharatPe created India’s first UPI Bhai Khata for merchants.


The revenue and business model of BharatPe relies on offering  its customers with a QR-based digital payment platform and even have a separate app for its merchants where the company offer its consumers with credits for their transactions done digitally. It basically sails for offering credits to vendors or merchant with less amount of interest. 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 vital for them to have a target especially on the merchant side of their business.

This QR-based digital payment application runs on B2BB2C model as it supports and helps the vendors as well as the merchants or shop owners and even many businesses. The digital app makes payment from more than 100 mobile apps downloaded in Indian mobiles on India’s UPI system by offering businesses a single interoperable QR sticker. The QR is scanned and accept the payment through various well-known mobile apps such as  Paytm, WhatsApp, Mobikwik, Amazon Pay, BHIM, and may other. BharatPe has a partnership with NBFCs that is approved by the RBI to create the 12% Club, a first kind investment, lending as well as borrowing app.

The 12% Club is a important step forward in the consumer world that would be effective and beneficial for the customers where- consumers can invest their money and can earn up to 12% of yearly interest without any time period and can even borrow at a competitive interest rate of 12%, customers can get up to Rs10 lakhs via this app, and many more benefits. Further, it is looking forward to earn an AUM of $100 Mn and a lending of $50 Mn from the 12% Club by the end of present financial year.


It is witnessed that BharatPe has raised a total of $ 720 million funding in over 12 rounds of funding. And its looking forward to raise Rs 1,300 crore as debt, which is a huge debt for an Indian startup as of 2021.  On 4th August,2021, BharatPe raised an investment of $370 million from Tiger Global Management LLC along with investors like Dragoneer Investment Group, Coatue Management, and Ribbit Capital. BharatPe became the 19th unicorn as of 2021 with a valuation of around $2.85 billion.

On 18 August 2021, BhartPe announce another debt financing round raising up to Rs200 crore fund in total from IIFL and Northern Arc which turned out to be the 7th fundraising round for the company in the year 2021.

On October 25 2012 which was the last debt financing round, The company successfully raised Rs100 crore from MAS Financial Services Pvt Ltd. The company uses this fund to strengthen its merchant lending vertical. The company is looking forward to raise around $250 mn worth of debt raise by the end of FY22. Thus, the investors also lists the company in the Top5 successful Fintech startups in India.

By Gitika Mandhana


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