Coatue management, Investment management company

New Delhi, Feb 26 Fintech services company BharatPe on Friday said it has already surpassed its target of facilitating disbursal of Rs 1,000 crores of business loans in FY 2020-21, to its merchant partners.While stating that it has enabled loans to over 1.1 lakh merchants across over 75 cities in India, BharatPe said it is likely to end up facilitating disbursals of Rs 1,250 crores in FY 21.Some of the top performing cities and areas today for the lending business include Delhi-NCR, Bengaluru, Hyderabad, and Pune.Also, the top categories for loans were groceries, food and beverages, and fashion, retail and beauty."We have set ourselves a target of enabling credit for 10 lakh small merchants and kirana store owners in FY22, totalling up to $1bn in disbursals," Suhail Sameer, Group President, BharatPe, said in a statement."We believe that the next level of growth for our lending business will be driven by merchants in the tier-2, 3 and 4 towns and cities," Sameer said, adding that the company is working on expanding its lending portfolio and will be offering a host of secured and unsecured lending products for merchants as well as distributors and wholesalers in the new fiscal.BharatPe recently announced that it has raised $108 mn in Series D equity round, at a valuation of $900 mn.The round was led by the company's existing investor Coatue Management.All seven existing institutional investors participated in the round Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital.( With inputs from IANS )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

Coatue ManagementFOLLOW

Coatue management, Latest News

Business :Whitespace Alpha Secures CAT 1 Special Situations Fund License

Hyderabad (Telangana) [India], May 13 (/NewsVoir): Whitespace Alpha, has secured a CAT 1 AIF Special Situations Fund License. A ... ...

Business :'postpe' dominates BNPL market: Clocks annualized TPV of Rs. 2,400 crores in 3 months of launch

BharatPe, one of India's fastest-growing fintech companies, today announced that its recently launched 'Buy Now Pay Later' product, 'postpe', has been a runaway success. 'postpe' emerged as one of the fastest growing products in the BNPL industry, wi ...

Technology :BharatPe facilitates Rs 1,000 cr loan disbursal in FY21

New Delhi, Feb 26 Fintech services company BharatPe on Friday said it has already surpassed its target of ... ...