BharatPe Turns EBITDA Positive: Clocks October 2023 as the First Profitable Month - Hindustan Times

BharatPe Turns EBITDA Positive: Clocks October 2023 as the First Profitable Month

Published on Nov 28, 2023 08:32 PM IST

This financial milestone is attributed to consistent growth across all its business lines

ByHT Brand Studio

Gurugram, Haryana, India – Business Wire India

  • Annualized revenue crosses Rs. 1,500 Cr.
  • ​Facilitated over Rs. 640 crores of loans to its merchants in October on its platform; 36% increase on a Y-o-Y basis.

BharatPe, one of India’s leading players in the fintech sector, today announced that it has turned EBITDA positive in October 2023. Additionally, it shared that its annualized revenue has surged past Rs. 1,500 Cr, a growth of 31% from c. This financial milestone is attributed to consistent growth across all its business lines. The company has also significantly cut down its EBITDA burn—which was averaging at Rs. 60 Cr per month in FY23—to attain EBITDA positivity. This significant milestone in conjunction with strong growth is a testament to the efforts of the team, enabled by strategic guidance from the Board. The company will continue taking strides toward being a market-leading financial services platform for the 50 million small businesses across India.

The company has experienced consistent growth in its lending vertical over the past several months. In October, it facilitated loans exceeding Rs. 640 crores for its merchants in partnership with its NBFC partners, demonstrating a spike of 36% Y-o-Y. BharatPe has facilitated loans totaling over Rs. 12,400 crores since its foray into this segment in late 2019. Additionally, it recorded growth across verticals - including its payment products. The company also saw remarkable growth in the number and amount of transactions done on its soundbox devices. BharatPe, in October, also recorded a monthly TPV of over Rs. 14,000 crores across its diverse range of payment products.

Speaking on the milestone, Nalin Negi, CFO and Interim CEO, BharatPe, said, “BharatPe was started with the vision of empowering millions of offline merchants and MSMEs across the country, with best-in-class fintech products. This milestone reflects the trust bestowed upon us by our vast network of over 1.3 crores merchant partners. October was a great month for us- we achieved significant growth with loans facilitated on our platform. Also, our digital payments verticals grew considerably, boasting a monthly transaction count exceeding 37 crores. We will continue to cater to the needs of our merchant partners as well as customers and our strategic focus will be to ensure sustained profitability across our business lines. In the coming months, we'll focus on scaling our lending, POS, and soundbox businesses. We will also focus on launching new products tailored for our merchant partners while concentrating on the development of our consumer and NBFC businesses."

Nalin added, “This achievement is a testament to the dedication and hard work of our team. I would like to congratulate each and every team member of BharatPe for achieving this milestone. Moving forward, we continue to stay committed to building a sustainable business with growth across business lines. We will continue to focus on driving financial inclusion across Bharat, empowering more offline merchant businesses. Our goal is to establish BharatPe as one of the largest merchant-first fintech companies in the country.”

About BharatPe Group

BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatPe Swipe. Currently with a registered network of over 1.3 crore merchants across 450+ cities, the company is one of the leading players in UPI offline transactions, processing 370 million+ UPI transactions. The company processes payments of annualized Transaction Processed Value of over Rs. 1.7 Lac Crores. The company has already facilitated the disbursement of loans of over Rs. 12,400 crores, in partnership with NBFCs. BharatPe’s POS business processes payments of over Rs. 29,000 crores annually on its machines. BharatPe has raised over US$ 583 million in equity till date. The company’s list of marquee investors includes Peak XV Partners (formerly known as Sequoia Capital India), Ribbit Capital, Insight Partners, Amplo, Beenext, Coatue Management, Dragoneer Investment Group, Steadfast Capital, Steadview Capital and Tiger Global. In June 2021, the company announced the acquisition of PAYBACK India (Rebranded to Zillion), the country’s largest multi-brand loyalty program company with 100 million+ members. In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the Buy Now Pay Later (BNPL) segment with the launch of postpe in October 2021. postpe has over 15 million downloads. In January 2023, BharatPe Group received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator. BharatPe is also a promoter in TrillionLoans, a renowned NBFC (Non- Banking Financial Company). For more details, please visit-

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Media Contact Details

Akanksha Jain (Head- PR and Communications), BharatPe,, +91-9871900447; Oeindrila Biswas (Sr Account Director), Avian WE,, +91-8447776880

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