BharatPe raises Rs50 crore in debt from Northern Arc

BENGALURU : Lending and digital payments startup, BharatPe, on Monday said that it has raised Rs50 crore (or $7 million) as debt funding from non-banking financial company (NBFC) Northern Arc Capital, in a bid to bolster its credit operations.

The New Delhi-based startup looks to disburse close to Rs14,000 crore worth of loans to small and medium enterprises (SMEs), over the next two fiscal years.

BharatPe had raised Rs200 crore as venture debt in January 2021 from Alteria Capital, InnoVen and Trifecta Capital. The company had later raised additional debt capital from ICICI and Axis Bank.

BharatPe has facilitated disbursals of over Rs1,600 crore, across 200,000 merchants since the launch of its lending vertical.