BharatPe gets $75 million from Coatue, Ribbit

BENGALURU: Fintech startup BharatPe has raised $75 million led by hedge fund Coatue Management and Palo Alto-based fintech investor Ribbit Capital, as it looks to fund its non-banking financial company (NBFC) arm that is awaiting licence approval from the Reserve Bank of India.

The latest funding round has nearly doubled BharatPe’s valuation to $425 million.

New investor Amplo, a US-based venture capital firm, and existing investors Insight Partners and Steadview Capital also participated in the Series C round. This brings the total capital raised by the one-and-ahalf year-old startup to $143 million across four funding rounds.

BharatPe said one reason for the latest fundraising was to invest around $70 million in equity capital in its NBFC arm Resilient Capital, and leverage that by 3-4 times to raise a pool of around $300 million to service loans for merchants on its platform.