Tiger wants a piece of Bharat Pe 🦄

Filter Coffee ☕

Jun 20, 2021

1 min read

Tiger’s next target is payment aggregator and processor BharatPe — with the startup’s Series E round getting a $250 million check, at a $2.5 billion valuation.

For those unaware, BharatPe helps mainstreet merchants accept digital payments via QR codes, digital wallets, and other channels. At the same time, the startup uses vendors’ “revenue history” to better understand income potential and offer customized lending products to merchants, trying to fill gaps left by traditional banks.

6 million merchants use the platform, with 50K+ POS machines deployed, and transaction volumes topping $1.5 billion annually. Lending business apparently grew 10x in 2020.

Big picture — RBI just okayed BharatPe and Centrum Financial’s joint takeover of the asset-rotten and capsized PMC bank, which could allow BharatPe to accelerate the deployment of licensed and regulated banking products, which is what we believe drove Tiger to pull the trigger here. Otherwise, valuing the company at 1.6x its annual payments volumes? Come on.

Think Use Your Head GIF by LeVar Burton
GIPHY

Get Filter Coffee ☕ straight to your inbox

No spam. No BS.
You might also like...
India

Nykaa is getting ready for an IPO 🚀

Online beauty retailer Nykaa is ready to file its docs with SEBI in the next few days — getting one of the most anticipated listings of the year 1 step close to reality. Nykaa will raise ~$400 million at a $4 billion valuation, says Moneycontrol, with early backers TPG and Fidelity likely to hit the door. Founder Falguni Nayar and family will continu

Filter Coffee ☕

1 min read
India

Indigo airlines losses are spiking 😶

Indigo airlines lost more than ₹3,000 crores during the last 3 months, with travel freezing and no signs of rebound in sight. This’d be the 6th straight quarter of losses for the business, with revenues down 56% from the quarter before . Without explicit doles or rescue offers from the government, things aren’t looking too bright for the entire sector! Meanwhile, optimist

Filter Coffee ☕

1 min read
Business

Spotify's growth is slowing a bit and Wall Street is worried 😬

It’s tech earnings time — and Spotify closed the second quarter with 165 million paid subscribers — a tad lower than the markets were expecting. Stock was promptly hammered down nearly 8% in New York. Quick look: * Revenue of €2.33B, up 23% YoY * Has 365M monthly active users Spotify’s advertising revenues grew by nearly 110% — thank to those annoying ads that may be put there by Satan himself. If you’re a sh

Filter Coffee ☕

1 min read