Indian fintech firm BharatPe raises $15m in debt funding

BharatPe, an Indian fintech company, has raised 125 crore rupees (US$15 million) in debt funding.

The round was co-led by Neo Group and Trifecta Capital, according to regulatory filings.

The funds were raised through the issuance of 5,000 Series I2 and 2,500 Series D3 non-convertible debentures (NCDs) priced at 1 lakh rupees (US$1,205) each.

Additionally, 500 Series J1 NCDs were priced at 10 lakh rupees (US$12,048) each. Neo Group and Trifecta Capital each contributed 50 crore rupees (US$6.02 million), while Alteria Capital added 25 crore rupees (US$3.01 million).

BharatPe plans to use the funds for business expansion and general corporate purposes.

🔗 Source: Inc42

🧠 Food for thought

1️⃣ Indian fintechs prioritize profitability ahead of public listings

BharatPe’s achievement of breakeven on adjusted EBITDA in just nine months of FY25 reflects a broader shift among Indian fintech unicorns toward sustainable business models before going public.

This trend directly responds to the evolving global IPO landscape, where investors increasingly favor profitable companies over speculative growth stories, as highlighted in EY’s Global IPO Trends report 1.

The 13 tech companies that listed in 2024 collectively raised INR 29,070 Cr, demonstrating strong market appetite for well-prepared tech businesses 2.

With 20 startups preparing for IPOs in 2025, companies like BharatPe are strategically positioning themselves by demonstrating profitability metrics to attract investor interest in an increasingly selective market 2.

BharatPe’s IPO timeline (targeting FY27) gives the company adequate runway to strengthen financial fundamentals, aligning with market expectations for sustainable growth and value creation rather than just scale.

2️⃣ Regulatory compliance becoming central to Indian fintech business strategies

BharatPe’s receipt of RBI approval to operate as an online payment aggregator highlights how regulatory compliance has become a critical strategic asset for Indian fintechs rather than just a requirement.

The RBI has significantly increased scrutiny of the sector, with internet and card-based banking frauds quadrupling in FY24, prompting stricter oversight of all fintech operations 3.