BharatPe to raise over Rs 5,000 crore in debt funding in next 2 years

Financial Technology firm BharatPe on Wednesday said it plans to raise over Rs 5,000 crore in debt funding in next 2 years to build its lending business.

The company further announced that it has received Rs 60 crore from Innoven Capital, a venture debt and specialty lending firm.

“As we build the lending business at BharatPe, raising institutional debt is important to us. We plan to raise USD 500-700 million (Rs 3,600 crore – Rs 5,118 crore) of debt capital over the next 2 years.

“We are incredibly glad that Innoven Capital is our first supporter on this journey. We look forward to working with Innoven to build a long-term win-win relationship,” BharatPe group president Suhail Sameer said in a statement.