BharatPe Achieves Positive EBITDA In October 2023, Marks First Profitable Month
Fintech unicorn BharatPe announced on Tuesday that it achieved positive EBITDA in October, with annualised revenue surpassing Rs 1,500 crore. The company attributed this financial milestone to consistent growth across all business lines.
BharatPe reported a 31 per cent growth in annualised revenue from FY23 (April 2022 to March 2023) and significantly reduced its EBITDA burn, turning EBITDA positive. The fintech experienced notable growth in its lending vertical, facilitating loans exceeding Rs 640 crore in October. It recorded a monthly Total Payment Volume (TPV) of over Rs 14,000 crore across its diverse range of payment products.
Since its entry into the lending segment in late 2019, BharatPe has facilitated loans totaling over Rs 12,400 crore. The company plans to focus on scaling its lending, POS and soundbox businesses, as well as launching new products tailored for merchant partners. Nalin Negi, CFO and interim CEO of BharatPe, emphasised the commitment to building a sustainable business with growth across various lines and driving financial inclusion across India.
Founded in 2018, BharatPe has over 1.3 crore registered merchants across 450+ cities and processes payments with an annualised TPV of over Rs 1.7 lakh crore. The fintech has raised over USD 583 million in equity, with investors including Peak XV Partners, Ribbit Capital, Insight Partners and Tiger Global. In January 2023, BharatPe received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator and is also a promoter in TrillionLoans, an NBFC.
