Fintech startup BharatPe turns EBITDA positive in Oct; annualised revenue up Rs 1,500 crore

Share via:

Fintech startup BharatPe has announced that it turned EBITDA positive in October 2023 on the back of consistent growth across all its business lines.

Notably, it has also reduced its EBITDA burn, which averaged Rs 60 crore per month in FY23, to attain EBITDA positivity.

Growth in annualized revenue 

BharatPe’s annualized revenue has seen a significant jump, reaching over Rs 1,500 crore, marking a 31% growth. The startup said that a key factor in this growth is its lending vertical.

In October, BharatPe facilitated loans exceeding Rs 640 crore through its NBFC partners, a 36% increase year-over-year. Since late 2019, It has facilitated loans totaling over Rs 12,400 crore.

Expansion across payment products 

Apart from annualized revenue, BharatPe has also seen an increase in its payment products, including a notable rise in transactions on its soundbox devices and a monthly TPV (Total Payment Volume) of over Rs 14,000 crore across its payment products.

BharatPe claims that its network now includes over 1.3 crore merchant partners across 450+ cities.

Scaling lending, POS, soundbox businesses

Nalin Negi, CFO and Interim CEO of BharatPe, said, “This milestone reflects the trust bestowed upon us by our vast network of over 1.3 crores merchant partners. October was a great month for us- we achieved significant growth with loans facilitated on our platform.”

Negi said that the company is boasting a monthly transaction count exceeding 37 crores. He also said that BharatPe will focus on scaling its 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,” Negi added.

Join our new WhatsApp Channel for the latest startup news updates

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Fintech startup BharatPe turns EBITDA positive in Oct; annualised revenue up Rs 1,500 crore

Fintech startup BharatPe has announced that it turned EBITDA positive in October 2023 on the back of consistent growth across all its business lines.

Notably, it has also reduced its EBITDA burn, which averaged Rs 60 crore per month in FY23, to attain EBITDA positivity.

Growth in annualized revenue 

BharatPe’s annualized revenue has seen a significant jump, reaching over Rs 1,500 crore, marking a 31% growth. The startup said that a key factor in this growth is its lending vertical.

In October, BharatPe facilitated loans exceeding Rs 640 crore through its NBFC partners, a 36% increase year-over-year. Since late 2019, It has facilitated loans totaling over Rs 12,400 crore.

Expansion across payment products 

Apart from annualized revenue, BharatPe has also seen an increase in its payment products, including a notable rise in transactions on its soundbox devices and a monthly TPV (Total Payment Volume) of over Rs 14,000 crore across its payment products.

BharatPe claims that its network now includes over 1.3 crore merchant partners across 450+ cities.

Scaling lending, POS, soundbox businesses

Nalin Negi, CFO and Interim CEO of BharatPe, said, “This milestone reflects the trust bestowed upon us by our vast network of over 1.3 crores merchant partners. October was a great month for us- we achieved significant growth with loans facilitated on our platform.”

Negi said that the company is boasting a monthly transaction count exceeding 37 crores. He also said that BharatPe will focus on scaling its 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,” Negi added.

Join our new WhatsApp Channel for the latest startup news updates

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

OYO Acquires Blackstone-Owned G6 Hospitality For $525 Mn

SUMMARY The deal is expected to close in the...

Alexis Ohanian is premiering his women’s soccer show on...

In a late Friday email, X CEO Linda...

BingX confirms the resumption of withdrawal services following hack

Monetary losses from the BingX hack were initially...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!