BharatPe’s valuation crosses $2.85 bn in $370 mn in Series E equity round

BharatPe, the leading financial services company for merchants, said on Wednesday that it has raised $370 million in a Series E equity round, at a post-money valuation of $2.85 billion. The primary component of the round is $350 million and the secondary component is of $20 million. All employees holding vested employee stock ownership plan (ESOPs) have been given full liquidity in the secondary component.

The funding makes Delhi-based BharatPe the latest entrant to the coveted unicorn club. It was valued at about $900 million in its Series D round in February this year, and $425 million last year.

The new round, led by Tiger Global, also saw new participation from Dragoneer Investment Group and Steadfast Capital.