The Fintech company BharatPe has secured Rs 85 crore (around USD 10 million) through non-convertible debentures, marking its second debt funding in 2024 with the support of Peak XV and Coatue. 

The regulatory filing with the Registrar of Companies reveals that the board of BharatPe issued 500 Series E1 debentures at Rs 10,00,000 each and 3,500 Series F1 debentures at Rs 1,00,00 each to raise Rs 85 crore in debt.

The filing further indicates that Trifecta Venture provided Rs 50 crore in debt, while Innoven Capital contributed Rs 35 crore. According to Entrackr’s sources, BharatPe concluded its debt round in the USD 100 million range earlier this year. 

It was anticipated that InnoVen Capital would invest USD 60-70 million in BharatPe, with Credit Saison allocating the remaining capital to BharatPe’s NBFC arm, Trillion Loans. Sources close to the company shared that BharatPe opted for debt funding due to its proximity to breaking even and the desire to avoid diluting equity. 

In August 2021, BharatPe joined the unicorn club after its last equity round, raising over USD 650 million in equity and debt from investors such as Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, and others.

Based on TheArch report, BharatPe’s operating revenue for FY24 surged by 16%, reaching Rs 1,370 crore, up from Rs 1,029 crore in FY23. Additionally, the six-year-old company reported a 70% reduction in losses, bringing them down to Rs 270 crore in the last fiscal year.

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