Fintech platform BharatPe has secured $10 million or Rs 85 crore in debt funds through non-convertible debentures, marking its second debt funding in 2024. Trifecta Venture Debt contributed Rs 50 crore while Innoven Capital accounted for Rs 35 crore.
The Peak XV and Coatue-backed company’s regulatory filing with the Registrar of Companies (RoC) indicates that the company board passed a resolution, issuing 500 series E1 debentures at Rs 10 lakh each and 3,500 Series F1 debentures at Rs 10,000 each to raise a total of Rs 85 crore.
Earlier in 2024, the Delhi-based company had a debt infusion of $100 million with Innoven Capital potentially contributing $60-70 million and Credit Saison accounting for the rest in BharatPe’s NBFC arm Trillion Loans. It has not yet been confirmed whether Innoven’s debt funding is part of the earlier commitment or a fresh one.
Sources confirm that the fintech chose debt funds as it is nearing break-even and did not want to dilute equity.
BharatPe became a unicorn after its latest equity round in August 2021, raising $650 million from Tiger Global, Dragoneer Investment Group, Coatue Management, Ribbit Capital, and Steadfast Capital among others.
Source: Entrackr
