FinTech Startup BharatX Raises $4.5 Mn From YC and Others in Seed Round to Enable Embedded Credit
Summary
Funds raised will be used for team expansion, product development and market expansion Founders of Razorpay, Dropbox, Dunzo, and other angels also took part in the round., a Y-Combinator backed company, has raised $4.5 million in a seed round from Y Combinator, 8i Ventures, Multiply Ventures, Soma Capital and other investors to enable embedded credit in the Indian market. Today, if you look at the landscape, most players have low Credit Eligibility approval rates, long documentation sign-up processes and unethical collection practices. Our B2B2C business model enables us to not only win trust of users via the Brand power of players we work with, but also enable us to reach to Millions of users at Scale with almost Zero Cost.. And with this new round of support from our investors, were looking to scale up faster & more aggressively in the near future, he adds.The funds raised will be used to build & expand the team, enhance & develop the product further and for market expansion. We are delighted to partner with them as they pursue their audacious vision of building Indias largest BNPL platform., adds, Ive been very impressed by Mehul and the BharatX team. I cant wait to see what they build next.The most popular embedded credit journey by BharatX is the Pay in 3 plan for High Ticket transactions on E-Commerce players,, which allows the customer to split their purchases into three interest-free installments with one of the highest approval rates in the market.Founded in 2019, BharatX has been working with 50+ brands in India including the largest D2C brands in India, growing more than 10X in the last 4 months in volume.