BharatPe Startup Story
Do you have problems with code-based payments? Isn’t it true that servers go down from time to time and you can’t make your payment? Such problems affect merchants, retailers, customers, and a variety of other businesses and business people. Accepting digital payment methods is not always easy, even if it appears to be the case most of the time.
Anyway, now that you have BharatPe, you can effortlessly and conveniently approach your digital payment requirements. Read the Founders and Team, Business Model, Revenue Model, Funding and Investors, Growth, Competitors, Tagline, Slogan and Logo, Recent News of the Brand, and more in BharatPe success story.
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For offline merchants and shops, BharatPe is a QR code-based payment app. The company’s headquarters are in New Delhi, but there is also a BharatPe office in Bangalore. Through the BharatPe QR, the app allows users to receive UPI payments for free. The app enables users to sign in instantly and begin receiving payments in their bank accounts. They began with the goal of making payments free for all of their users. Its goal is to assist everyone.
Founders and Team of BharatPe
Ashneer Grover, Bhavik Koladiya, and Shashvat Nakrani are the founders of BharatPe. Ashneer Grover is the co-founder and CEO of BharatPe. Ashneer is a graduate of the Indian Institute of Technology, Delhi, and is from South Delhi, India. He was the new head of new business at PCJ at one point. He was also the head of Amex India’s Corp Dev. He has also served as the CFO of Grofers in the past.
Bhavik Koladiya, who is known as the Group Head – Product and Technology, is another Co-founder of BharatPe. BharatPe is also co-founded by Shashvat Nakrani. He graduated from the Indian Institute of Technology, Delhi, with a bachelor’s degree in textile technology in the class of 2015-19. Bhavnagar, India, is his hometown.
BharatPe – What Is It and How Does It Work?
As you may be aware, practically all merchants spend more time on the BharatPe app. Only in this way does the company’s total grow to around $2000. Lending firms, whether small or large, are always important. As a result, BharatPe‘s lending business is just as important as the others.
It runs an eponymous service to assist all offline retailers. However, by allowing free transactions on their platforms, these types of payment apps make almost no money. Merchants cannot even be charged a tiny commission by those that process UPI payments. BharatPe’s login and interface are also simple. After the merchant account, a BharatPe credit card can be generated.
BharatPe – Business Model
BharatPe is a separate Indian payments-free corporation that serves offline stores and businessmen/women, as everyone knows, notably merchants. By providing companies with a single interoperable QR sticker, they accept payments from 100+ mobile apps downloaded in Indian mobiles using India’s UPI system.
All well-known mobile apps, including Paytm, WhatsApp, Mobikwik, Amazon Pay, BHIM, Google Pay, Freecharge, and True Caller, can scan the QR code and accept payments. Retailers also receive prompt payment for transactions done the same day in their bank accounts. So now you know that each one has their own distinct manner of conducting business.
BharatPe has signed cricketers Rohit Sharma, Jasprit Bumrah, KL Rahul, Mohammed Shami, Ravindra Jadeja, Suresh Raina, Shreyas Iyer, Prithvi Shaw, Sanju Samson, Yuzvendra Chahal, and Shubhman Gill as brand ambassadors for 2021.
Club of 12 percent
The 12 percent Club, a first-of-its-kind investing, consumer lending, and borrowing app, has been launched by BharatPe in collaboration with NBFCs that have been certified by the RBI. The 12 percent Club app is a significant step forward for BharatPe in the consumer arena, and it will be a significant benefit for users who:
- Consumers can invest without a lock-in period and earn up to 12% yearly interest.
- They can take out a loan at a low-interest rate of 12%.
- This software allows customers to borrow up to Rs 10 lacs.
- They can also get loans up to Rs 10 lacs with no collateral and a three-month repayment period.
- They can also withdraw their funds in part or in full at any time and from any location.
- For loans obtained through this platform, there will be no processing or prepayment fees.
- Customers can begin investing with as little as Rs 1000 and receive daily interest credit.
By the conclusion of the current fiscal, BharatPe expects the 12 percent Club app to have an AUM of $ 100 million and a loan AUM of $ 50 million.
BharatPe – Revenue Model
BharatPe’s business model is based on providing a digital payment platform to its customers, as well as a separate app for its merchant partners, where the company credits them for their transactions digitally, as previously noted. Its main purpose is to provide retailers with financing at lower interest rates.
To raise revenue on its platform, the corporation relies on the interdependent cyclical relationship of credit and application usage. It’s critical for a fledgling company like BharatPe to concentrate on the merchant side of their business. BharatPe revealed that its yearly sales have increased by 7X from FY20 when they were Rs 110 crore and have now risen to Rs 700 crore in FY21.
BharatPe – Funding, And Investors
BharatPe has raised a total of $680.3 million in nine rounds of investment. The company wants to raise Rs 1,300 crores in debt, which would appear to be the largest financing round for an Indian startup this year.
On August 4, 2021, BharatPe received a $370 million investment from Tiger Global Management LLC, as well as current investors Dragoneer Investment Group, Coatue Management, and Ribbit Capital. As a result, the financial startup’s valuation has risen to $2.85 billion, making it the 19th unicorn of 2021. BharatPe is also one of the Top 5 most valuable Fintech businesses in India, according to this financing.
BharatPe successfully raised Rs 100 crores ($13.44 million) apiece from Northern Arc and IIFL Wealth on August 19, 2020, bringing the total fundraising for the firm in 2021 to Rs 500 crores ($67.20 million). BharatPe also plans to raise roughly $250 million in debt before the end of FY22.
BharatPe – Tagline, Slogan, And Logo
The company’s tagline is “Ab se Dukandar is King.” ‘Apne Parivar Aur Shop Ko Rakhe Insured,’ it also states. It’s the first UPI Bahi Khata for retailers in India. It is India’s first Fintech business that allows retailers to accept payments offline. The trademark owners are the owners of the BharatPe logo.
BharatPe – Development
According to BharatPe news and recent studies, the company is fast expanding, and it is currently the fourth largest participant in the UPI segment, behind Google Pay, PhonePe, and PayTm. And the business has grown while spending relatively little money on it. In the private POS category, BharatPe is ranked third. In collaboration with Safehold, the platform has launched the BharatPe Gold program, which is a digital gold product for merchants.
In the second half of 2020, it launched BharatSwipe, a disruptive card payment acceptance machine. BharatSwipe is a zero-rent Swipe machine that was the first of its kind in India, and as a result, it has garnered a resounding reaction since its beginnings. With the advent of BharatSwipe, BharatPe’s total business experienced a significant boost.