Type of business | Private |
---|---|
Type of site | Financial service |
Available in | Multilingual |
Founded | 2018 |
Headquarters | New Delhi, |
Area served | India |
Founder(s) | Ashneer Grover Shashvat Nakrani Bhavik Koladiya |
Chairman | Rajnish Kumar |
Key people | Nalin Negi (CFO) Ankur Jain (CPO) Aparna Kuppuswamy (CRO) Pankaj Goel (CTO) Parth Joshi (CMO) |
Industry | Internet E-commerce |
Services | UPI payments and digital money lending for merchants |
Revenue | ₹1,029 crore (US$130 million) (FY23) [1] |
Net income | ₹−941 crore (US$−120 million) (FY23) |
Parent | Resilient Innovations Private Limited |
URL | bharatpe |
Commercial | Yes |
Registration | Required |
Current status | Active |
BharatPe is an Indian fintech company that sells digital payment and financial services to small merchants and Grocery stores. [2] [3] [4] [5]
According to Peerzada Abrar of Business Standard , "BharatPe was founded in 2018 by Ashneer Grover and Shashvat Nakrani, with the vision of making financial inclusion a reality for Indian merchants." [6]
In 2021, the company acquired Payback India, a "multi-brand loyalty programme" [7] [8]
In April 2024, BharatPe elevated Nalin Negi as its CEO, 15 months after he took over as the interim CEO and CFO in January 2023. [9]
In 2023 Ashneer Grover, who had left the company, accused his fellow co-founder Bhavik Koladiya of data theft. Grover claimed that Koladiya, who has since left BharatPe, had stolen data of 150 million users. [10] In November 2023, BharatPe filed a petition against Ashneer Grover for allegedly disclosing confidential information. [11]
BharatPe has a stake in Unity Small Finance Bank. [12]
In October 2021 BharatPe launched the country's first BNPL (Buy Now Pay Later) product. [5]
Bharat Petroleum Corporation Limited (BPCL) is an Indian public sector undertaking (PSU) under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It operates three refineries in Bina, Kochi and Mumbai. BPCL is India's second-largest government-owned downstream oil producer, whose operations are overseen by the Ministry of Petroleum and Natural Gas. BPCL was ranked 309th on the Fortune list of the world's biggest PSUs in 2020, and 792nd on Forbes's "Global 2000" list in 2021.
IndusInd Bank Limited is an Indian financial services headquartered in Mumbai (Maharashtra). IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh.
Spice Money Limited (SML) is an Indian rural fintech and digital services company headquartered in Noida, India. It was founded in 2000 by Dilip Modi, the chairman and group CEO of DiGiSPICE Technologies. SML operates as a subsidiary of DiGiSPICE Technologies. It engages local individuals, known as Adhikaris, to assist customers with their banking requirements. As of 2021, SML reportedly had a network of over a million Adhikaris on its platform.
Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.
Infibeam Avenues Limited is an Indian payment infrastructure and software as a service (SaaS) fintech company that provides digital payment services, eCommerce platforms, digital lending, data cloud storage and omnichannel enterprise software to businesses across industries in India and globally.
MakeMyTrip is an Indian online travel company, which was founded in 2000. Its headquarter is located in Gurugram, Haryana, the company provides online travel services including airline tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets. As of June 2023, the company has 146 active franchisees operating in over 100 cities. MakeMyTrip also has international offices located in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, Dubai, and Istanbul.
RBL Bank, formerly known as Ratnakar Bank Limited, is an Indian private sector bank founded in 1943; its headquarters are in Mumbai. It offers services across six verticals: corporate and institutional banking, commercial banking, branch and business banking, retail assets, development banking and financial inclusion, treasury and financial market operations.
Paytm is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. Paytm was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. The company offers mobile payment services to consumers and enables merchants to receive payments through QR code payment, Payment Soundbox, Android-based-payment terminal, and online payment gateway. In partnership with financial institutions, Paytm also offers financial services such as microcredit and buy now, pay later to its consumers and merchants.
Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts. The mobile number of the device is required to be registered with the bank. The UPI ID of the recipient can be used to transfer money. It runs as an open source application programming interface (API) on top of the Immediate Payment Service (IMPS), and is regulated by the Reserve Bank of India (RBI). Indian Banks started making their UPI-enabled apps available on Google Play on 25 August 2016.
Financial technology is an industry composed of companies that use technology to offer financial services. These companies operate in insurance, asset management and payment, and numerous other industries. FinTech has emerged as a relatively new industry in India in the past few years. The Indian market has witnessed massive investments in various sectors adopting FinTech, which has been driven partly by the robust and effective government reforms that are pushing the country towards a digital economy. It has also been aided by the growing internet and smartphone penetration, leading to the adoption of digital technologies and the rise of FinTech in the country
GreenSky, LLC is a financial technology company founded in 2006 based in Atlanta, Georgia. It provides technology to banks and merchants to make loans to consumers for home improvement, solar, healthcare and other purposes.
BillDesk is an Indian online payment gateway company based in Mumbai. The company provides an online payment platform for its clients which enables banking and merchant website transactions.
PhonePe is an Indian digital payments and financial services company headquartered in Bengaluru, Karnataka, India. PhonePe was founded in December 2015, by Sameer Nigam, Rahul Chari and Burzin Engineer. The PhonePe app, based on the Unified Payments Interface (UPI), went live in August 2016.
PayU is a Netherlands-based payment service provider to online merchants. The company was founded in 2002, and is headquartered in Hoofddorp. It allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications. As of 2018, the service is available in 17 countries. The firm is owned by the Naspers Group, which also owns a stake in one of its sister companies, Tencent.
AU Small Finance Bank Limited is an Indian scheduled commercial small finance bank and India’s largest tech-led small finance bank, based in Jaipur. It was founded as vehicle finance company and NBFC, AU Financiers (India) Ltd in 1996 and converted into a full-fledged small finance bank on 19 April 2017.
IDFC FIRST Bank is an Indian private sector bank formed by the merger of the banking arm of Infrastructure Development Finance Company and Capital First, an Indian non-bank financial institution.
Pine Labs is an Indian company that provides point of sales systems and payment systems, founded in 1998. The company has a valuation of over US$5 billion.
CRED is an Indian fintech company, based in Bangalore. Founded in 2018 by Kunal Shah, it is a reward-based credit card payments app. Cred also lets users make house rent payments and provides short-term credit lines. Cred has received criticism for being overvalued and lacking a sound monetization strategy.
One97 Communications Ltd is an Indian multinational technology company, headquartered in Noida. It was founded in 2000 by Vijay Shekhar Sharma. Through its subsidiaries and businesses, the company offers digital payment and financial services to consumers and merchants in India. It also provides mobile advertising, marketing and payments for merchants.
Shark Tank India is an Indian Hindi-language business reality television series that airs on Sony Entertainment Television. The show is the Indian franchise of the American show Shark Tank. It shows entrepreneurs making business presentations to a panel of investors or sharks, who decide whether to invest in their company.