BharatPe, a fintech unicorn backed by Tiger Global, completed its first secondary transaction through wealthtech platform Wylth since 2021. One of the sources stated, "As part of the deal, Gujarat-based family offices acquired 2.6% from the 27% common equity pool at the last private valuation."
Key Highlights
- BharatPe completes its first secondary share sale since 2021, achieving a valuation of $2.85 billion.
- The secondary transaction signals investor confidence and marks major liquidity event for early stakeholders.
When BharatPe raised $370 million in a Series E round, it was valued at $2.85 billion, according to TheKredible, a startup data intelligence platform.
After a protracted governance crisis involving Ashneer Grover, Bhavik Koladiya, Sarswat Nakrani, and Madhuri Jain Grover, this is BharatPe's first liquidity event.
BharatPe, which is currently headed by CEO Nalin Negi, is concentrating on enhancing governance and getting ready for an IPO. The company recently added Himanshu Nazkani as Head of Investments and Rajesh C as Head of Finance to its leadership team.
Also Read: Unity Bank Partners with BharatPe to Introduce EMI-based Credit Card
In the meantime, negotiations are underway for BharatPe to raise $80-100 million in a pre-IPO round. Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, and other investors have contributed more than $650 million in debt and equity to date.
BharatPe's revenue increased from Rs 180 crore in FY21 to Rs 1,734 crore in FY25, according to media reports. Four years ago, the company reported yearly losses exceeding Rs 1,800 crore; however, it has since turned a profit.
