Fintech firm BharatPe has raised Rs.85 crore (roughly $10 million) under debt through non-convertible debentures. This is the second debt implantation in the Peak XV and Coatue-moved organization in 2024.

The board at BharatPe has given 500 Series E1 debentures at Rs.10, 00,000 each and 3,500 Series F1 debentures at Rs.1, 00, 00 each to raise Rs.85 crore, its regulatory filing with the Registrar of Companies showed.

Trifecta Venture debt invested in Rs.50 crore while Innoven Capital partook with Rs.35 crore, shows recording.

BharatPe, according to Entrackr’s sources, closed its $100 million debt round early this year.

BharatPe was anticipated to receive $60-70 million from InnoVen Capital, with Credit Saison investing the remaining capital in the NBFC arm of the Delhi-based company, Trillion Loans. The debt from Innoven could be a piece of the above sum.

We have connected with BharatPe to affirm in the event that their speculation is new or existing.

BharatPe chose debt-based funding round because it was close to breaking even and didn’t want equity to be diluted, according to sources close to the fintech company. When BharatPe checked into the unicorn club in August 2021, it also raised its final equity round.

It has brought more than $650 million up in value and debt from Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue management, Ribbit Capital and others.

As per TheArch report, BharatPe’s operating income expanded by 16%, arriving at Rs.1,370 crore in FY24, up from Rs.1,029 crore in FY23. In addition, the six-year-old business reported a 70% decrease in losses, which decreased to Rs.270 crore during the most recent fiscal year.