# BharatPe

BharatPe is a FinTech Company based in Gurugram, India.

## Overview

- **Organization type:** FinTech Company
- **Headquarters:** Gurugram, India
- **Region:** Asia
- **Address:** 7th and 12th Floor, Building No.8, Block-C, Cyber City DLF City Phase 2 Road, DLF City Phase 2, Gurugram, Haryana, 122008, India
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** bharatpe.com
- **LinkedIn:** https://www.linkedin.com/company/bharatpe

## Regulatory record

- **Reports private funds:** No

## About

Accept digital payments with BharatPe UPI QR Code. Know more about BharatPe QR, Card Swipe Machine and BharatPe Speaker.

## Sectors

- FinTech
- Payments
- Lending

## Offices

- Bengaluru
- Mumbai
- Hyderabad
- Kolkata

## People

- Nalin Negi — Chief Executive Officer
- Rajnish Kumar — Chairman
- Shashvat Nakrani — Executive Director
- Aparna Kuppuswamy — Chief Risk Officer
- Rohan Khara — Chief Product & Marketing Officer

## Questions

### How does BharatPe source proprietary deal flow for its lending business?

BharatPe's lending is not a marketplace operation; it originates loans exclusively to merchants already using its QR code or card machines. The company analyzes UPI transaction flow data from its merchant network to underwrite unsecured business loans, eliminating the need for traditional credit bureau scores or collateral. This data is proprietary because BharatPe remains the acquiring platform for those transactions.

### Is BharatPe structured as a payments company or a lender?

BharatPe is structured as a holding company with three interconnected components. The parent owns a payments platform serving over 17 million merchants, a majority stake in NBFC subsidiary Trillionloans (acquired 2024), and a 49% stake in Unity Small Finance Bank (acquired 2021). The payments business generates transaction data, the bank provides a regulated deposit channel, and the NBFC arm originates and holds loans on its books.

### Does BharatPe participate in fund commitments or only direct lending?

BharatPe has not historically operated a fund-of-funds or LP commitment program. Its capital deployment runs through direct merchant loan origination via its NBFC subsidiary and through balance-sheet lending partnerships with other RBI-approved NBFCs. The firm has also built an investment platform for retail consumers but has not disclosed a venture or credit fund vehicle.

### Which sectors does BharatPe explicitly target or avoid?

BharatPe targets small and medium brick-and-mortar merchants across India, irrespective of sector — kirana stores, pharmacies, food-and-beverage outlets, and service providers constitute the core merchant base. The firm has not disclosed any explicit sector exclusions in its lending portfolio, but its underwriting model requires sufficient UPI transaction history, which automatically filters out cash-intensive informal businesses.

### How does BharatPe's ownership of a bank stake affect its competitive positioning?

The 49% stake in Unity Small Finance Bank, acquired in 2021, gives BharatPe a structurally embedded distribution-and-deposit channel that pure-play fintechs lack. Merchants using BharatPe QR can become bank account holders within the same ecosystem. Regulators continue to scrutinize the intersection of fintech platforms and banking licenses, but as of early 2024 BharatPe had not been directed to reduce its stake.

### What is BharatPe's known posture on co-investments alongside external financial institutions?

BharatPe has not disclosed co-investment structures alongside external GPs or allocators. Its lending model operates on a partnership basis with third-party NBFCs for loan origination and distribution, but these are not structured as equity co-investments. The firm's capital relationships are primarily debt lines and balance-sheet lending arrangements rather than pooled investment vehicles.

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Last updated: 2026-06-03T20:00:00.000Z

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