Fintech company BharatPe has secured Rs 85 crore (approximately $10 million) in debt through non-convertible debentures. This marks the second instance of debt financing for the Peak XV and Coatue-backed firm in 2024.
According to a regulatory filing with the Registrar of Companies, BharatPe’s board issued 500 Series E1 debentures at Rs 10,00,000 each and 3,500 Series F1 debentures at Rs 1,00,000 each, raising a total of Rs 85 crore. The filing indicates that Trifecta Venture Debt provided Rs 50 crore, while Innoven Capital contributed Rs 35 crore.
Sources close to the matter revealed that BharatPe had previously completed a $100 million debt round earlier this year. It was anticipated that Innoven Capital would invest between $60-70 million in BharatPe, while Credit Saison provided the remaining capital for the Delhi-based company’s NBFC arm, Trillion Loans. The recent debt from Innoven Capital might be part of this amount.
The last equity round for BharatPe was in August 2021, which also marked its entry into the unicorn club. Since its inception, the company has raised over $650 million in equity and debt from investors such as Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, and Ribbit Capital.
