India’s BharatPe buys controlling stake in local NBFC

BharatPe team / Photo credit: BharatPe

Indian fintech firm BharatPe has acquired a 51% stake in Trillion Loans, a local non-banking financial company for an undisclosed sum.

Following the deal, Trillion Loans will continue operating as an independent company. The firm said it will explore partnerships with other fintech companies to roll out more credit products.

“Providing access to credit to our merchant partners is key to our business model, and this acquisition will further propel our growth and accelerate our journey to profitability,” BharatPe founder Shashvat Nakrani said in a statement.

As part of the deal, BharatPe has appointed Ravindra Pandey, Nalin Negi, and Sabyasachi Senapati on the board of Trillion Loans. While Pandey has served as director of the Board at Yes Bank and National Payments Corporation of India, both Negi and Senapati are executives of BharatPe.

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Trillion Loans provides loan products catered to SMEs and retail consumers. These include working capital loans, auto loans, and education loans.

Meanwhile, BharatPe makes point-of-sale transactions easier for merchants with the help of a unified QR code that accepts payments from any app.