BharatPe raises Rs 50 cr debt from Trifecta Capital

New Delhi: Fintech company BharatPe on Wednesday said it has raised Rs 50 crore (about USD 7 million) in debt from venture debt firm Trifecta Capital. This is the third tranche of debt fund financing raise by BharatPe. In the last two tranches, the company has raised Rs 199 crore in debt.

“BharatPe is committed to empowering the small merchants and Kirana store owners with easy to use and secure fintech products. The fact that we have been able to raise debt from all three renowned venture debt providers – Alteria, Innoven and Trifecta Capital – in the largest single raise is a testimony of the scalability of our business model,” BharatPe co-founder and CEO Ashneer Grover said.

The debt raised will help further build the lending business and enable credit for millions of businesses across India’s length and breadth, he added.