BharatPe, a fintech unicorn, has invested approximately $8-9 million in its non-banking financial company (NBFC) subsidiary, Trillion Loans, increasing its stake in the Mumbai-based firm to nearly 60%, according to two sources familiar with the matter.
In May 2023, BharatPe acquired a majority 51% stake in Trillion Loans. The company, backed by Tiger Global, also appointed Ravindra Pandey, Nalin Negi, and Sabyasachi Senapati to the NBFC’s board. This investment is seen as a strategic move to boost confidence among external stakeholders, including the lending community and equity holders.
Trillion Loans is now valued at $100 million, and BharatPe plans to fully acquire a 100% stake in the NBFC within the next 24 months, according to one source. Additionally, BharatPe is aggressively working to increase its stake in Unity Small Finance Bank to gain more control. Currently, BharatPe owns 49% of Unity SFB, while Centrum Group holds the remaining 51%.
This investment will enable Trillion Loans to explore new opportunities, leverage its capital, and operate within regulatory limits comfortably, another source mentioned.
BharatPe has not commented on this development. The company raised its last equity round in August 2021 and was reportedly in talks to secure a larger equity round. Although the equity funding did not materialize, BharatPe has raised multiple debts over the past three years. The company is also expected to be profitable on a consolidated basis in the current fiscal year (FY25). BharatPe’s operating revenue reportedly increased by 16% to Rs 1,370 crore in FY24, while its losses reduced by 70% to Rs 270 crore in FY24.
