BharatPe is in advanced negotiations to raise $80-$100 million in a pre-IPO round headed by Coatue Management. For the fintech unicorn based in Delhi, this equity funding is the first of its kind in four years.
Additionally, some new and current investors will participate in the round. One of the sources stated that the goal is to improve the company's financial standing and lay the groundwork for a potential public listing.
Key Highlights
- BharatPe is seeking to raise $80–100 million in a pre-IPO round, targeting a marquee global lead investor.
- The fintech firm’s core business is now profitable, with net losses narrowed and revenues up over 27% in FY24.
Coatue's new partner Amit Mukherjee is leading the investment. He has been actively assisting BharatPe's board and management with IPO preparations.
Last week, BharatPe CEO Nalin Negi stated that the company will conduct a pre-IPO round but will not list this fiscal year (FY26). According to another source, the company wants to ensure consistent profitability before submitting draft documents.
BharatPe raised its last equity round in August 2021, when it joined the unicorn club. It has raised over $650 million in equity and debt from Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital, and other investors.
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During the first nine months of FY25, the company broke even on EBITDA (adjusted for employee stock options), while net losses fell to Rs 148.8 crore.
In April, BharatPe's subsidiary Resilient received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This makes BharatPe one of the few Indian fintech companies with an NBFC license (via Trillion Loans), a stake in a small finance bank (Unity SFB), and a payment aggregator license.
