The content in this post has been approved by BharatPe.
Suffering from code-based payments? At times server goes down and you are unable to do your payment right? Our retailers and businessmen are often suffering from this matter I suppose. Payment methods are always hard for a few to perform and at times easy as well when you know everything about the matter.
Anyway now you all got no worries because BharatPe is always with you to make your payments easy by using a single interface for all UPI apps. Read the BharatPe success story below. I assume you all will be coming out with various solutions to your problems.
Company Highlights
| Startup Name | Bharatpe |
|---|---|
| Headquarters | Delhi, India |
| Sector | Fintech |
| Founders | Ashneer Grover and Shashvat Nakrani |
| Founded | April 2018 |
| Website | bharatpe.com |
BharatPe - About
BharatPe - Founders And Team
BharatPe - How Does It Work?
BharatPe - Business Model
BharatPe - Revenue Model
BharatPe - Funding And Investors
BharatPe - Tagline, Slogan And Logo
BharatPe - Growth
BharatPe - Competitors
BharatPe - Future Goals
BharatPe - About
BharatPe is a QR code-based payment app for offline businessmen and retailers. The app allows its users to accept UPI payments for absolutely free through the BharatPe QR. The app helps it's users to sign in immediately and they start receiving the funds in their bank account. They started with a mission to make payments free for all its users. Its intention is to help all.
BharatPe - Founders And Team
Ashneer Grover and Shashvat Nakrani are the founders of the company BharatPe.
Ashneer Grover is the CEO and the founder of BharatPe. He is a graduate from Indian Institute of Technology, Delhi. He is from South Delhi, India. He was once the new head of new business at PCJ. He headed Corp Dev for Amex India. He also built Grofers business out as CFO.
Shashvat Nakrani is the co-founder of BharatPe. He is an IITD dropout. He has got a bachelor's degree in Textile Technology from the Indian Institute of Technology, Delhi. Batch - 2015-19. He has got 193 followers on Twitter and 239 following. His hometown is at Bhavnagar, India.
BharatPe - How Does It Work?
As you all know almost all of the merchants spend more time on the app BharatPe. By only this way the company increases its amount to about $2000. Lending businesses are always crucial no matter its small ones or big ones. So BharatPe's lending business is also crucial like the others. It operates an eponymous service to help all offline merchants. But such kind of payment apps nearly makes no money by enabling free transactions on their platforms. Those processing UPI payments can not even charge a small commission to merchants. So what are you gonna say now? They are running at a loss? Certainly not!
Ashwini
BharatPe - Business Model
As everyone knows, especially the merchants, BharatPe is a different Indian payments free company which is serving the offline retailers and businessmen/women. They accept payments from 100+ mobile apps downloaded in the Indian mobiles on India's UPI system by offering businesses a single interoperable QR sticker. The QR can be scanned by and then payments are accepted from all renowned mobile apps such as PayTm, WhatsApp, Mobikwik, Amazon Pay, BHIM, Google Pay, Freecharge and True Caller. Retailers also get immediate credits for transactions made in their bank accounts on the same day. So now you know each one has got its own unique way of running their businesses.
Lakshya Singh
BharatPe - Revenue Model
This is a startup company and it provides it's consumers a digital payments platform and also has got a separate app for its merchant friends where the company credits them for their transactions digitally as mentioned above. It actually sails for providing credits to the merchants with cheaper interests. The company counts on the interdependent cyclical connection of credit and application usage to boost the revenue on its platform. For a startup company like BharatPe it's important for them to focus especially on the merchant side of their business
BharatPe - Funding And Investors
BharatPe has raised a total amount of $290.3 Million in funding over 7 rounds.
| Date | Transaction Name | Money Raised | Lead Investors |
|---|---|---|---|
| May 10, 2021 | Debt Financing | $6.7 million | Northern Arc |
| February 11, 2021 | Series D | $108 million | Coatue |
| January 6, 2021 | Debt Financing | $33.5 million | Alteria Capital, Innoven Capital and Trifecta Capital |
| February 24, 2020 | Series C | $75 Million | Coatue and Rabbit Capital |
| June 4, 2019 | Series B | $50 Million | Insight Partners, Rabbit Capital |
| February 21, 2019 | Series A | $14.5 Million | Sequoia Capital India |
| October 1, 2018 | Seed Round | $2 Million | BEENEXT and Sequoia Capital India |
BharatPe is funded by 18 investors. Northern Arc is the most recent investor.
BharatPe - Tagline, Slogan And Logo
The tagline of the company is 'Ab se Dukandar is king'. It also says 'Apne Parivar Aur Shop Ko Rakhe Insured. It has launched India's first UPI Bahi Khata for merchants. It's the first Fintech startup in India enabling merchants to pay offline. A hell lot interesting thing for them obviously not for all.
The logo of the company is the property of the trademark owners.
BharatPe - Growth
Studies says that the company is growing rapidly and presently it's the 4th largest player in the UPI portion after Google Pay, PhonePe and PayTm. And the company has achieved this growth by spending very less money into it.
BharatPe is in the 3rd spot in the private POS category. It had launched BharatSwipe, its disruptive card payment acceptance machine in the latter half of 2020. BharatSwipe is a zero rental Swipe machine, which is the first of such systems that India has seen, and therefore, it received an overwhelming response right from its inception. The overall business of BharatPe received a huge boost with the introduction of BharatSwipe. Furthermore, it has also helped the company scale up its business rapidly, and contribute around 20% to the overall payments Transaction Processed Value (TPV) of the company.
BharatPe has installed over 1 lac BharatSwipe machines across 16 cities in the country that supports transactions of over Rs. 1400 crores every month. Furthermore, it has also received an overwhelming response from small merchants across segments including kirana store owners, restaurant owners, and entrepreneurs with 4-5 outlets.
BharatPe - Competitors
The competitors of the company are Mamo Pay, PayTm, PhonePe, Lunar, albo and eXPO.
Let's look into the few comparisons below -
BharatPe vs albo
- BharatPe is a fintech company that operates a QR based payment app for offline retailers and businesses headquartered in New Delhi with Twitter followers of 4.4k whereas albo is a mobile banking app which helps it's users to manage their money headquartered in Mexico with Twitter followers of 4.9k.
BharatPe vs PhonePe
- BharatPe did merchant transactions worth $76 million and PhonePe did it at worth $1 billion including UPI and cards.
- PhonePe thinks that BharatPe did cheat their name and they went to the court about the matter. The case is still on. Researches say that BharatPe is better than PhonePe especially due to their QR code payment system.
BharatPe vs PayTm
- BharatPe and PayTm both are having almost same features. They both provide loans after the users complete a certain amount of transaction limit. Both are fully loaded with certain sorts of interesting features which attracts people a lot. PayTm often gives different kinds of offers such as buy 1 get 1 free, etc. Experts say that PayTm is way better than BharatPe because it has got few complaints than what BharatPe has.
BharatPe - Future Goals
The company desired for something new and this year they launched a button named Paisa Bolega. This button converts the shopkeeper's phone into a loudspeaker, announcing the value of the transaction received loudly. Within the end of this year, the company desires to disburse around Rs. 700 crores. They say that there will be rising demands of the shopkeepers so this is their further plan. The company also disbursed around Rs 140 crores recently. Founder of the company says that there has been no development in the loan demand of the shopkeepers recently and so they plan to move forward with it and they think that rental payments and stocking up for inventory payments will soon rise.
BharatPe announced its future plans of scaling up its POS business via a PR dated July 15, 2021. BharatPe, which now stands 3rd when it comes to private POS solutions, plans to expand its POS business, BharatSwipe by 3x. Eyeing growth, BharatPe is aiming to reach $ 6bn in annualized TPV by the end of FY22. The company is further looking to widen its overall reach by 5x and make BharatSwipe popular across 80 cities in India by the end of the next financial year.
Shubham Kumar
FAQs
What is BharatPe app?
A pioneer in UPI payments and digital money lending for merchants. It is a payment solution application exclusively designed for merchants that can accept payments from any UPI payment app through a single BharatPe QR Code.
Who is the owner of BharatPe?
BharatPe founders - Ashneer Grover and Shashvat NakraniWhat
Is BharatPe a government company?
No
Author: Purbalee Dutta
Source : https://startuptalky.com/bharatpe-success-story/
Date : 2021-07-16T05:34:00.000Z