Funding updates

BharatPe a Digital lending startup raises up to $75 Mn.

The company aims to raise the first tranche of about $75 million equity by March, chief executive and co-founder Ashneer Grover said in an interview, adding the debt will be raised over two years. The New Delhi-based company last raised nearly $75 million in February 2020 as part of a Series C round led by New York-based hedge fund Coatue Management and Palo Alto-based Ribbit Capital.

It has operated an eponymous service to help offline merchants accept the digital payment method. Even as India has already emerged as the second-largest internet market, with more than 500 million users, much of the country remains offline. Among those outside of the reach of the internet are merchants running small businesses, such as roadside stalls.

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