InvestorQ : Why has Bharat Pe raised the latest round of funding from Tiger Global?
sarah Leo made post

Why has Bharat Pe raised the latest round of funding from Tiger Global?

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Rashi Mehra answered.
3 months ago
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Bharat Pe, a leading merchant payment provider in India, has raised $370 million via a Series-E round led by Tiger Global Management. In addition, other PE names that participated in the fund raising included Dragoneer and Steadfast. Bharat Pe will use the additional funds to expand its existing lines of business by a factor of ten in the next 2 years.

Bharat Pe also plans to use part of the funds to capitalize PMC Bank, in collaboration with Centrum Financial. It may be recollected that RBI has allowed Bharat Pe and Centrum Financials to take over PMC Bank subject to their floating a JV SFB for the specific purpose. Broadly, Bharat Pe offers 3 service lines including merchant payments, financing and financial services to merchant partners.

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