From Trifecta And InnoVen BharatPe Receives $10 Mn Debt 

In one of the largest fundraising exercises, leading fintech firm BharatPe raised Rs 85 crore, almost $10 million, in debt funding through non-convertible debentures.

[{"selector":"#anim-fde819df-e99e-4f89-a69b-ecd3f2b271c5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1e784500-6d2c-4ade-98d8-42b7fa915c3c","keyframes":{"transform":["translate3d(0px, 153.34634%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-129ddaf0-1159-4265-9451-3df7aeba01e9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.459821484650224%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

BharatPe’s board has approved the issuance of 500 Series E1 debentures with a face value of Rs 10,00,000 and 3,500 Series F1 debentures at a face value of Rs 1,00,000 each.

[{"selector":"#anim-f56ac12a-5c73-485e-bff4-d47a95a0aece","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3be37af4-5e70-4fa0-a76a-4c61a13a6fe6","keyframes":{"transform":["translate3d(0px, 159.19429%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The strategic move brought huge investments worth Rs 50 crore from Trifecta Venture Debt and Rs 35 crore from InnoVen Capital.

[{"selector":"#anim-ed335029-2f3d-4359-bfac-30779c1cedc9","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e85f55d8-ff85-41a7-aaa0-d70d88c52497","keyframes":{"transform":["translate3d(0px, 178.47705%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

InnoVen Capital was likely to invest $60-70 million in BharatPe and the rest was provided by Credit Saison to its NBFC arm, Trillion Loans.

[{"selector":"#anim-35c8092c-e479-4027-8298-7523b3a07658","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e9640b12-df1e-48e2-832d-11a3651c9a0e","keyframes":{"transform":["translate3d(0px, 178.47705%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

This recent InnoVen debt could have been part of this larger funding plan. BharatPe has been reached out for confirmation on whether this is a new investment or part of the existing one.

[{"selector":"#anim-9e9367c6-0340-4c51-886b-13b8f7f77583","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-77a689dc-c9c6-4185-9d00-f59db41712ba","keyframes":{"transform":["translate3d(0px, 136.79506%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Insiders said BharatPe opted for debt financing as the company was approaching break-even and did not want to dilute its equity.

[{"selector":"#anim-5b7de5af-114e-426b-84e7-61754719418e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fdc0f43c-6653-4089-959c-34fe18628a51","keyframes":{"transform":["translate3d(0px, 186.16938%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]