SUMMARY
- Fintech company BharatPe has recently introduced loan facilities for its merchant partners.
- The company has collaborated with OTO Capital and Volt Money to offer two-wheeler loans and loan against mutual funds (LAMF) solutions to its existing merchant partners.
- This development comes shortly after BharatPe reportedly increased its stake in Mumbai-based Trillion Loans to 60%, following its second investment in the NBFC.
In the aftermath of its investment in its NBFC subsidiary, Trillion Loans, leading fintech company BharatPe has recently introduced loan facilities for its merchant partners.
To facilitate this plan, the company has collaborated with OTO Capital and Volt Money, two prominent financial service providers, to offer two-wheeler loans and loan against mutual funds (LAMF) solutions to its existing merchant partners.
BharatPe’s chief executive officer Nalin Negi has shared, “I am excited about the launch of the secured loans offerings as this further bolsters the credit portfolio enabled by BharatPe and underscores our commitment to enable credit access to our merchants.”
During the initial phase of this expansion, BharatPe has announced the provision of two-wheeler loans ranging from Rs 2.5 lakh to Rs 1 crore, along with loans against mutual funds. The loan application process will be conducted through BharatPe’s platform, with the partner companies responsible for the disbursement and collection of funds, as detailed in a company statement.
Furthermore, the Gurugram-based company has expressed its intention to broaden its loan offerings across various sectors. This development comes shortly after BharatPe reportedly increased its stake in Mumbai-based Trillion Loans to 60%, following its second investment in the NBFC.
This investment was made after BharatPe’s debt funding of Rs 85 crore (approximately $10.1 million) from Trifecta Venture and InnoVen Capital through the issuance of non-convertible debentures (NCDs). This marks BharatPe’s second debt issuance of the year, following a $100 million fundraise from InnoVen Capital and Credit Saison in January.
In April, BharatPe introduced ‘BharatPe One‘, a comprehensive payment device that integrates point-of-sale (PoS), QR code scanner, and speaker functionalities.
