BharatPe raises ₹50cr from Northern Arc

BharatPe, the financial services organization for merchants, on Monday said it has raised ₹50 crore ($7 million) in the red from Chennai-based Northern Arc Capital, a digital debt finance platform. This is the 6th round of commitment financing for BharatPe in 2021.

In January this year, the organization had raised ₹200 crore ($26 million) from Alteria Capital, InnoVen Capital and Trifecta Capital, and raised extra capital from ICICI Bank and Axis Bank at a later platform.

BharatPe has been supporting credit necessities of its trading partners has arisen as one of the biggest B2B fintech lenders in the country. Having already facilitated disbursals of more than ₹1,600 crore ($230 million) to in excess of 2 lakh vendors since the launch, BharatPe expects to disburse ₹14,000 crore ($2 billion) in business credits by March 2023.

Northern Arc has directly disbursed more than ₹3,500 crore ($ 500 million) in the course of the last monetary year to MSMEs, families, financial institutions and mid-market corporates.