This is 112 percent growth during the last quarter. Bharatpe said it also reached the highest of $ 18.5 billion in the total annual payment value (TPV)-50 percent growth during the last quarter.”Installing successful Fy22 that we closed with traders ‘loan growth 3 times, 2.5 times growth in payment and surge in revenue 4 times, Bharatpe has recorded the’ best quarter ever in Q1, FY23,” said Suhail Sameer, CEO, CEO , Bharatpe.
“We are in an extraordinary journey of growth, driven by major changes in behavior towards digital payment modes, UPI’s revival and increasing revenue of new -age fintech products,” he added.The company facilitated the disbursement of more than 1.2 lakh traders in Q1, FY23, up from 66,000 traders in the last quarter of FY22.
In addition, other Bharatpe product offers, including receiving business postcards (Bharatswipe) and its investment platform for traders, recorded consistent growth (more than 30 percent) compared to the last quarter.
“We are on the track to reach our target of $ 2 billion in facilitated loans (through our NBFC/Bank Partners) in all consumer and traders’ businesses at the end of FY23 and TPV scalks up to $ 30 billion in March 2023,” Sameer said.
The company saw its biggest controversy starting earlier this year when Co-Founder and CEO Ashneer and his wife Madhuri Jain Grover suck up funds that are of crores value and then fired by the company.
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