According to media reports, BharatPe, a leading fintech firm, has raised Rs 85 crore (approximately USD 10 million) in debt through non-convertible debentures. This marks the second debt infusion for the Peak XV and Coatue-backed company in 2024.
Sources revealed to media outlets that BharatPe had previously closed a USD 100 million debt round earlier this year, with InnoVen Capital likely to contribute USD 60-70 million and Credit Saison providing the remainder through its NBFC arm, Trillion Loans. It remains unclear if the recent InnoVen debt is part of this larger funding plan or a new investment.
Insiders indicated to the media that BharatPe chose debt financing to avoid equity dilution as it nears break-even. This strategic decision aligns with the company's long-term financial goals, reflecting confidence in its ability to achieve sustainable growth. BharatPe's last equity round was in August 2021 when it attained unicorn status. To date, the company has raised over USD 650 million in equity and debt from notable investors like Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, and Ribbit Capital.
Media reports state that BharatPe's board approved the issuance of 500 Series E1 debentures with a face value of Rs 10,00,000 each and 3,500 Series F1 debentures with a face value of Rs 1,00,000 each. This strategic issuance attracted Rs 50 crore from Trifecta Venture Debt and Rs 35 crore from InnoVen Capital, as detailed in the company’s regulatory filing with the Registrar of Companies.
The latest debt infusion from Trifecta and InnoVen is expected to further solidify BharatPe’s financial stability and support its expansion plans, as reported by media
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