BharatPe Records 112% Growth

Leaving the Ashneer Grover controversy behind, fintech platform BharatPe has completed one of its most successful quarters, facilitating over Rs 3,600 crore in loans in the first quarter (April-June period) of FY23. This represents a 112 percent increase over the previous quarter. BharatPe also announced an all-time high in annualised total payment value (TPV) of $18.5 billion, representing a 50% increase over the previous quarter.

"Post a successful FY22 that we closed with a 3 times growth in merchant loans, 2.5 times growth in payments and a 4 times jump in revenue, BharatPe has recorded its' best ever quarter in Q1, FY23," said Suhail Sameer, CEO, BharatPe.

"We are on an incredible growth journey, driven by a huge shift in behaviour towards digital payment modes, rise of UPI and the increased acceptance of new-age fintech products," he added.
In the first quarter of FY23, the company processed payments for over 1.2 lakh merchants, up from 66,000 in the previous quarter. Furthermore, BharatPe's other product offerings, including card acceptance POS businesses (BharatSwipe) and its investment platform for merchants, grew consistently (by more than 30%) compared to the previous quarter.