BharatPe FinTech Unicorn Turns EBITDA Positive:Records First Profitable Month in October 2023

BharatPe FinTech Unicorn Turns EBITDA Positive:Records First Profitable Month in October 2023

BharatPe achieves EBITDA positivity in October 2023

BharatPe's annualised revenue in October 2023 crossed Rs 1,500 crore, a growth of 31% from FY23.

In the month of October alone, facilitated loans exceeding INR 640 crores.

Payments business processes transactions worth over Rs 14,000 crores in the month of October 2023.

Merchant lending business facilitates loans worth over Rs 3,100 Cr in October 2023, serving over 2.4 lakh merchants.

In a significant milestone, BharatPe, a leading fintech company in India, has turned EBITDA positive in October 2023. This marks a pivotal moment in the company's journey as it transitions towards profitability. Additionally, BharatPe's annualized revenue has crossed INR 1,500 Cr, demonstrating its strong growth trajectory.

BharatPe's impressive financial performance is attributed to several factors:

1.Strong growth in merchant lending: The company's focus on providing quick and easy access to credit for small and medium-sized enterprises (SMEs) has fueled the growth of its merchant lending business.

2.Widespread adoption of payment solutions: BharatPe's innovative payment solutions, such as UPI QR and BharatQR, have gained widespread adoption among merchants and consumers, driving transaction volume and revenue.

3.Operational efficiency: BharatPe has implemented strict cost-control measures and streamlined its operations, leading to improved profitability.

Impact on the Indian Fintech Landscape

BharatPe's achievements have significant implications for the Indian fintech landscape:

1.Demonstrates the viability of fintech business models: BharatPe's success validates the viability of fintech business models and their potential to disrupt traditional financial services.

2.Encourages investment in fintech: BharatPe's positive financial performance is likely to attract further investment into the Indian fintech sector, fostering innovation and growth.

3.Promotes financial inclusion: BharatPe's focus on serving underserved segments, such as SMEs and merchants in Tier 2 and Tier 3 cities, promotes financial inclusion and economic empowerment.

Future Outlook

BharatPe is well-positioned for continued growth and success in the Indian fintech ecosystem. The company's strong focus on innovation, customer-centricity, and operational efficiency will be crucial in maintaining its competitive edge and achieving its long-term goals.

Additional Data and Insights

1.BharatPe's total loan facilitation has grown by 89% YoY, reaching Rs 6,720 Cr in FY23.

2.The company's merchant base has doubled in the past year, reaching over 2.4 lakh merchants.

3.BharatPe processed over 100 crore transactions in October 2023, with an average transaction size of Rs 140.

4.The company is expanding its product offerings to include new lending products, wealth management solutions, and insurance services.

5.BharatPe is committed to expanding its reach into new markets, including rural areas and international markets.

BharatPe's journey is a testament to the transformative power of technology in the financial services industry. The company's achievements have set a benchmark for others in the sector and have paved the way for a more inclusive and accessible financial landscape in India.

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November 30, 2023

Kalpana Maurya