BharatPe
BharatPe is an Indian fintech company that sells digital payment and financial services to small merchants and Grocery stores.
History
According to Peerzada Abrar of Business Standard, "BharatPe was founded in 2018 by Ashneer Grover and Shashvat Nakrani, with the vision of making financial inclusion a reality for Indian merchants."In 2021, the company acquired Payback India, a "multi-brand loyalty programme".
In April 2024, BharatPe elevated Nalin Negi as its CEO, 15 months after he took over as the interim CEO and CFO in January 2023.
On 20 August 2024, BharatPe announced extending its credit offerings for its merchants to secured loans. The company will now enable secured two-wheeler loans and Loans Against Mutual Funds through lending partners OTO Capital for two-wheeler loans and Volt Money for LAMF.
2023 data theft allegations
In 2023 Ashneer Grover, who had left the company, accused his fellow co-founder Bhavik Koladiya of data theft. Grover claimed that Koladiya, who has since left BharatPe, had stolen data of 150 million users.In November 2023, BharatPe filed a petition against Ashneer Grover for allegedly disclosing confidential information. BharatPe announced on Sep 30 2024 that it had reached a settlement with him. Under this agreement, a portion of his shares will be transferred to the Resilient Growth Trust. Both sides have consented to refrain from any legal proceedings as part of the settlement.
Investments
BharatPe has a stake in Unity Small Finance Bank.Subsidiaries
- Loyalty Solutions & Research Private Limited
- Resilient Payments Private Limited
- Resilient Digi Services Private Limited
- Resilient Capital Private Limited
- Trillionloans Fintech Private Limited
PostPe