BharatPe, on 28 November, announced that it had turned EBITDA positive in October and has reached an annual revenue of Rs 1,500 crore. EBITDA (earnings before interest, taxes, depreciation, and amortisation) is a measure of core corporate profitability.

The company has not provided the actual numbers but said that the financial milestone was achieved through consistent growth across all business lines.

They added, “The company has also significantly cut down its Ebitda burn, which was averaging at Rs 60 crore per month in FY23, to attain Ebitda positivity.”

Moreover, the company has also experienced consistent growth in its lending vertical over the past several months. The company has facilitated loans amounting to over Rs 12,400 crore since its entry into this segment in late 2019.

The statement added, “Additionally, it recorded growth across verticals – including its payment products. The company also saw remarkable growth in the number and amount of transactions done on its soundbox devices. BharatPe, in October, also recorded a monthly TPV of over Rs 14,000 crores across its diverse range of payment products,”

Nalin Negi, CGO and interim CEO of BharatPe, said, “BharatPe was started with the vision of empowering millions of offline merchants and MSMEs across the country, with best-in-class fintech products. This milestone reflects the trust bestowed upon us by our vast network of over 1.3 crores merchant partners.”

He added that October has been a great month for the company, they have achieved significant growth with loans facilitated on its platform. The company’s digital payment vertical has grown significantly, with monthly transaction counts exceeding 37 crores.

He said, “We will continue to cater to the needs of our merchant partners as well as customers and our strategic focus will be to ensure sustained profitability across our business lines. In the coming months, we’ll focus on scaling our lending, POS, and soundbox businesses. We will also focus on launching new products tailored for our merchant partners while concentrating on the development of our consumer and NBFC businesses,”

The company has raised over $583 million in equity to date with its investors, including Peak XV Partners, Tiger Global, Ribbit Capital, and Insight Partners.