According to two persons familiar with the case, BharatPe, a fintech startup, has invested $8-9 million in its non-banking financial company (NBFC) subsidiary, Trillion Loans, bringing its investment in the Mumbai-based firm to roughly 60%.
In May 2023, BharatPe purchased a 51% share in Trillion Loans. The business, which is funded by Tiger Global, has also nominated Ravindra Pandey, Nalin Negi, and Sabyasachi Senapati to the NBFC board. This investment is viewed as a deliberate step to instill confidence in external stakeholders, such as the lending community and stock holders.
Trillion Loans is currently valued at $100 million, and BharatPe intends to buy a 100% share in the NBFC within the next 24 months, according to one source. BharatPe is also aggressively increasing its stock in Unity Small Finance Bank in order to gain more influence. Currently, BharatPe controls 49% of Unity SFB, with Centrum Group holding the remaining 51%.
According to another source, this investment will allow Trillion Loans to explore new options, leverage its cash, and securely operate within regulatory constraints.
BharatPe has not responded to this development. The company’s most recent equity investment closed in August 2021, and it was allegedly in talks to secure a larger round. Although the equity capital did not materialize, BharatPe has raised numerous debts in the last three years. The corporation is also predicted to be profitable on a consolidated basis for the current fiscal year (FY25). BharatPe’s operating revenue allegedly climbed by 16% to Rs 1,370 crore in FY24, while losses fell by 70% to Rs 270 crore.
