BENGALURU : Lending and digital payments startup, BharatPe, on Monday said that it has raised Rs50 crore (or $7 million) as debt funding from non-banking financial company (NBFC) Northern Arc Capital, in a bid to bolster its credit operations. BharatPe had raised Rs200 crore as venture debt in January 2021 from Alteria Capital, InnoVen and Trifecta Capital. The company had later raised additional debt capital from ICICI and Axis Bank. The company was also planning to raise $200 million debt from banks and other institutions this year, Grover said earlier. Northern Arc claims to have disbursed over Rs3,500 crore over the last financial year to SMEs, households, financial institutions and mid-market corporates.

Source: Mint May 10, 2021 11:10 UTC