Exclusive: BharatPe and NBFC arm Trillion Loans complete debt round
Summary
Fintech firm BharatPe has completed its $100 million debt round, according to sources aware of the development. The new debt round has come after a gap of more than two years for the Delhi-based company.InnoVen Capital is in the last leg to deploy one of its largest bets in BharatPe which could be anywhere in the range of $60-70 million, said a source requesting anonymity.Its NBFC arm Trillion Loans has also raised a separate debt round from Credit Saison, as per sources. The Tiger Global-backed firm also appointed Ravindra Pandey, Nalin Negi and Sabyasachi Senapati on the board of the NBFC arm.BharatPe has chosen debt instead of equity as the firm appears close to break-even and doesnt want to dilute equity at the moment, said another source who also requested anonymity as talks are private.BharatPe raised its last equity round in August 2021 when it announced $370 million in Series E round. The firm also entered into the unicorn club post-funding.BharatPe declined to comment while queries sent to InnoVen and Credit Saison did not elicit an immediate response. In the ongoing fiscal year, the firm also reported its first profitable month i.e. October.BharatPe recently claimed that it has provided loans worth over Rs 12,400 crore and it also facilitated loans worth Rs 640 crore in a month to merchants in partnership with its NBFCs.