BharatPe Completes Acquisition Of Majority Stake in NBFC Loans

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BharatPe, a leading Indian fintech company, has completed the acquisition of a majority stake in non-banking financial company (NBFC) Trillion Loans. The deal will enable BharatPe to expand its lending services and cater to the needs of small and medium-sized enterprises (SMEs) in India. Trillion Loans, which was founded in 2019, specializes in providing working capital loans to SMEs through its digital platform. The company has disbursed over INR 300 crore ($40 million) in loans to date, and has a strong presence in the southern states of India. With the acquisition, BharatPe will gain access to Trillion Loans’ digital lending platform, which will enable it to expand its lending services to SMEs across India. The move is part of BharatPe’s strategy to become a one-stop-shop for all financial services for SMEs, including payments, lending, and insurance. The acquisition of Trillion Loans is the latest in a series of strategic moves by BharatPe to expand its presence in the Indian fintech market. The company has raised over $400 million in funding to date, and has recently launched several new products, including a digital gold investment platform and a merchant-focused insurance product. The Indian fintech market has seen significant growth in recent years, driven by factors such as increasing smartphone penetration, rising internet usage, and a supportive regulatory environment. The COVID-19 pandemic has also accelerated the adoption of digital financial services in India, creating new opportunities for fintech companies like BharatPe.