BharatPe raises Rs 50 crore debt from Northern Arc Capital

Kolkata: BharatPe, a fintech startup that launched India’s first UPI interoperable QR code, has raised Rs 50 crore in debt from Northern Arc Capital.

This is the payments app’s sixth round of debt financing so far this year. The company had in January raised Rs 200 crore from Alteria Capital, InnoVen Capital and Trifecta Capital. ICICI Bank Ltd. and Axis Bank Ltd. have also invested in the firm.

BharatPe supports the credit requirements of its merchant partners. Having facilitated disbursals of over Rs 1,600 crore to more than 2 lakh merchants since the launch of the lending vertical, BharatPe aims to disburse Rs 14,000 crore in business loans by March 2023.