A PROJECTT REPORT ON

“BHARAT PAY”
SUBMITTED IN PARTIAL FULFILMENT FOR THE AWARD
OF THE DEGREE BACHELOR OF BUSINESS
ADMINISTRATION
(2021-2024)

SUBMITTED TO: SUBMITTED BY:

MS, PARUL SHARMA KRISH PAHUJA
00315101721

52-55 INSTITUTIONAL AREA JANAK PURI NEW DELHI-110058

(AFFILITATED TO GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY)
1/P
 CERTIFICATE
This is to inform you that the project report on “BHARAT PAY” (financial
technology and e-commerce) is bonafide work of “KRISH PAHUJA”, ROLL NO
00315101721”, of Guru Govind Singh Indraprastha University, Delhi pursing
BBA (1st shift) from 52-55,Institutional Area Janak puri,New Delhi 110058
The work has been done under my supervision during the second semester.

Date: Signature

MS. Parul Sharma

Professor
(Finance/Accounting)

2/P
ACKNOWLEDGMENT
I would like to express my gratitude and thanks to my professor and guide Ms.
Parul Sharma for his valuable help and guidance, and for encouragement that
he has given me in completing this project on the topic “BHARAT PAY”.

I would also like to thank my Directors and Dean

A sincere thanks to all those people who helped me in completion of this work.

KRISH PAHUJA
00315101721

3/P
 BONAFIDE CERTIFICATE

This is to certify that as per the best of my belief the project

Entitled “BAHART PAY” is the bonafide research work
carried out by the KRISH PAHUJA, 00315101721 student of
BBA, MERI, JANAKPURI, NEW DELHI in partial fulfilment of
the requirement of the Degree of Bachelors of Business
Administration

He has worked under my guidance

Name: Ms.Parul Sharma

Minor Project
DATE: 4/P
 EXECUTIVE SUMMARY
The study on “BHARAT PAY” aims at highlighting the
promotional tools used and level of satisfaction achieved by
the customer by using the services of BHARAT PAY . Trough
this research I have tried to find the current position of
BHARAT PAY , from the point of view of customer. The
research was conducted by getting a questionnaire .The
analysis of the same is depicted trough the table and the pie-
chart and the percentage of customer satisfied with the
services
CHAPTER.1: IT gives a brief introduction about the
organisation .It includes overview of the industry, brief
description about the company, Problems facing by BHARAT
PAY analysis and finally its competitors
CHAPTER.2: This chapter deals with the objective,
significance, scope of study and the research methodology of
the project
CHAPTER.3:This chapter discusses about the main topic
i.e.”CONCEPTUAL DESCUSSION”.This chapter gives a brief
insight of the basic concept of customer satisfaction of
Google pay
Chapter.4: This chapter is all about the data analysis. It
includes pie-charts and interpretation of data collected
trough questionnaires.
Chapter.5: This chapter gives the final conclusion and some
recommendations 5/P
TABLE OF CONTENT
1) EXECUTIVE SUMMARY-1
2) CHAPTER-1 INTRODUCTION
a) OVERVIEW-
b) PROFILE OF THE ORGANISATION -
c) PROBLEMS OF THE ORGANISTATION -
d) SWOT ANALYSIS -
e) COMPETETIORS INFORMATITION-
3) CHAPTER-2 OBJECTIVE
a) SIGNIFICANCE-
b) OBJECTIVES-
c) SCOPE OF STUDY-

4)CHAPTER-3 REVIEWS OF LITERATURE

5)CHAPTER-4 RESEARCH METHODOLOGY
6) CHAPTER-5 DATA ANALYSIS
7)CHAPTER-6 CONCLUSION, RECOMMENDATION
BIBLOGRAPHY /REFERENCES
CHAPTER 1 INTRODUCTION

INTRODUCTION
 The Bharat Bill payment system is a Reserve Bank of India (RBI)
conceptualised system driven by National Payments Corporation of India
(NPCI). It is a one-stop ecosystem for payment of all bills providing an
interoperable and accessible “Anytime Anywhere” Bill payment service
to all customers across India with certainty, reliability and safety of
transactions.
Bharat Bill Pay - The One stop destination for all recurring
payments

Bharat Bill Pay has multiple modes of payment and provides instant
confirmation of payment via an SMS or receipt. It offers myriad Bill
collection categories like electricity, telecom, DTH, gas, water bills, etc.
and also other repetitive payments like insurance premium, mutual
funds, school fees, institution fees, credit cards, fastag recharge, local
taxes, housing society payments, etc. at one single window. An effective
mechanism for handling consumer complaints has also been put in place
to support consumer regarding any Bill related problems in Bharat Bill
Pay
Different Payment Channels

Bharat Bill Pay transaction can be initiated through multiple payment

channels like Internet, Internet Banking, Mobile, Mobile-Banking, Mobile
Wallets, Kiosk, ATM, Bank Branch, Agents and Business
Correspondents, by just looking at the Bharat BillPay logo
Different Payment Modes

Bharat BillPay facilitates myriad payment modes enabling Bill payments.

The payment modes options facilitated under the ecosystem are Cards
(Credit, Debit and Prepaid), NEFT Internet Banking, UPI, Wallets,
Aadhar based Payments and Cash.
Key Features

Bharat BillPay is an integrated ecosystem connecting banks and non-banks in bills

Interoperable
aggregation business, Billers, payment service providers and retail Bill outlets.
Accessible Facilitate seamless payment of bills through any channel : Digital and physical.
Cost-effective Most cost-effective for entire ecosystem – Flat fee charge vs current ad valorem.
Integration BBPOUs will have to connect only to BBPCU to get access to all the billers. Utility
companies just need to connect to maximum two BBPOUs to enable all customers to
 pay bills.
Complaint Standardised system to handle customer grievances for both ON-US and OFF-US
Management transactions.
Dispute Facilitate BBPOU’s to raise and resolve disputes relating to transactions that have
Management passed through the Bharat BillPay ecosystem.
Clearing & Multiple Clearing & Guaranteed Settlements between different parties, standardised
Settlement TAT.
Standardisation Standardisation of processes for entire Bharat BillPay ecosystem.
Brand Connect Single and trusted brand connect and Bharat BillPay Assurance.
Key Participants

About Bharat Bill Payment Central Unit (BBPCU)

National Payments Corporation of India (NPCI) has been authorized by

RBI as the Bharat Bill Payment Central Unit (BBPCU) and is responsible
for setting business standards, rules and procedures for technical and
business requirements for all participants. The BBPCU undertakes
clearing and settlement activities related to transactions routed through
Bharat BillPay.
About Bharat Bill Payment Operating Unit (BBPOU)

Bharat Bill Payment Operating Unit aka BBPOU is the entity that is
authorized by Reserve Bank of India. It can be a Bank or a Non-Bank.
BBPOU may choose to integrate either with the customers, (COU:
Customer OU) or with the billers (Biller OU) or may wish to participate as
both – which means such BBPOU will be integrated with customers as
well as billers.
Going forward, only authorised BBPOU - both banks and non-banks
authorised by RBI - can handle payment and aggregation of payment
services relating to bills under the scope of Bharat BillPay.
Agent Institutions

Eligible Entities who wish to offer or those who are currently in Bill
payment, collection and aggregation business, would operate under a
COU (Customer BBPOU).
 Customer BBPOU will on-board Agent institutions which may further on-
board agents and/ or set up customer service points in various regions
and locations.
Agents

Agents are the customer touch points and service points in the Bharat
BillPay ecosystem available in the form of agent outlets, Business
Correspondent outlets, Bank branches, collection centres, retail outlets.
Biller/Utility Company

Service providers, who shall receive payments from customers for

services rendered. By participating in the Bharat BillPay scheme, the
biller will be able to receive payments from third party channels for the
services provided to the customer. A biller may tie up with up to two
BBPOUs to access the entire universe of its consumers and all payment
channels.
Category of Billers in Bharat BillPay:

All recurring payments will be a part of Bharat BillPay ecosystem. The

current live categories part of Bharat BillPay are as follows:
 Electricity
 
 Telecom (Mobile Post-paid, Landline Post-paid and Broadband)
 
 DTH
 
 Gas-Pipedline
 
 Water
 
 LPG Gas Booking
 
 Insurance (Life, General, Health)
 
 Loan Repayments
 
 FASTag Recharge
  
 Cable
 
 Education Fees
 
 Housing Society
 
 Municipal Taxes
 
 Municipal Services
 
 Hospital
 
 Subscription Fees
Other categories like mutual funds, credit cards, recurring deposits,clubs
and assocaition, metro recharge etc. would be covered under Bharat
BillPay shortly.
Bharat Bill Payment System (BBPS) is an integrated bill payment
system in India offering interoperable and accessible bill payment
service to customers through a network of agents of registered member
as Agent Institutions (AI),[1] enabling multiple payment modes, and
providing instant confirmation of payment.[2]
National Payments Corporation of India (NPCI) functions as the
authorised Bharat Bill Payment Central Unit (BBPCU), which will be
responsible for setting business standards, rules and procedures for
technical and business requirements for all the participants. NPCI, as the
BBPCU, will also undertake clearing and settlement activities related to
transactions routed through BBPS. Existing bill aggregators and banks
are envisaged to work as Operating Units to provide an interoperable bill
payment system irrespective of which unit has on-boarded a particular
biller. Payments may be made through the BBPS using cash, transfer
cheques, and electronic modes. BBPS has also been integrated with
the Unified Payments Interface (UPI) for Easy, Safe & Instant Payments
through UPI enabled
CHAPTER 2 REVIEW OF LITERATURE

A STUDY ON USERS OPINION ABOUT BHARAT PAY DR. SP MATHIRAJ

AND M MALA

ABSTRACT

At the present time, digital payment system is popularity due to the ‘Digital
India’ strategy. There are various set up of digital payment system. BHARAT
PAY is one such payment system which is simple and safe method to transfer
money rapidly. This research study conducted in Karaikudi Town. The Data for
the study have been collected from 120 respondents through structured
questionnaires. The data collected through questionnaires were analysed using
percentage analysis. Keywords: digital payment, digital India, BHARAT PAY
Introduction The vision of Digital India strategy is to transform India into a
digitally empowered society and knowledge economy On January 8, 2018,
Google declared that Google Wallet would be combined into Android Pay, with
the service as Google Pay. It is called as BHARAT PAY. Google Pay is one such
system of digital India. The demand of Google Pay system has been growing
society now-a-days. Most of the people (literate and illiterate) using in
BHJARAT PAY app installed our Smartphone. Peoples are pay through
electronically their transactions i.e. purchasing products at shops, consuming
services, mobile recharges, online shopping, electricity bill, etc., BHARAT PAY is
simple and safe system to transfer money immediately This system gives more
financial flexibility to the dealers and customers as well as people who desire
to send or receive money. BHARAT PAY is a
 Review of Literature
Satinder Bal Gupta, R. K. (2020)

[1]. The use of E-payment system is increasing at a very fast rate. Day by day
the numbers of users are moving towards online payment systems instead of
using plastic money like cash etc. Making online transactions is very convenient
and time saving. People can pay online not only for shopping but also for
different purposes as many different apps are available that offers many
services to the users. This paper studies the reasons of increasing popularity
and use of payment apps by the people of India for making payments online
and the continuous growth of these payment apps in India. The authors of this
paper analysed three most popular payment Apps used in India namely,
BHARAT PAY

Dr. S. Poongodi, D. P. (2021)

[2]. Digital payment system is gaining popularity due to the ‘Digital India’
campaign introduced by the government of India. There are various forms of
digital payment system. Data for the study have been collected from 150
customers through issue of structured questionnaire by adopting snowball
sampling technique. Simple Percentage, Weighted Average Ranking and Chi-
square test have been used to analyze the data. The study reveals that
majority of the customers are female with the age of below 30 years and
majority of them are undergraduates employed in private sector with an
earning of up to Rs.20000 per month and they are aware about BHARAT PAY
through friends, relatives and by themselves. The reasons for using BHARAT
PAY are mobile recharge followed by payment of EMI, DTH recharge, payment
of insurance premium, settlement of hotel bill, payment of electricity bill,
ticket booking, bank transfer and online purchase. Chi-square test reveals that
age, educational qualification, occupation, period of usage, frequency of usage,
hich avoids utilizes money in physicalMr.A.David1, Mr.M.Jeevan2
 CHAPTER 3 RESEARCH METODOLOGY
As per RBI data, FY19 recorded nearly INR 2326 crore in digital payments showing
an increment of 47% in FY21. At the end of FY21, UPI contributed majorly to the
growth of digital payments.

The underlying reasons for such massive growth are increased mobile & internet
penetration in the country with lightweight acceptance infrastructure (QR codes),
open-source platform, interoperability, ease of use and zero merchant discount fees
offered by FinTech giants like Google Pay, PhonePe, BharatPe and few more.

The following fig shows how the payment system in India has changed over the
period. Let us look broadly at how the industry functions based on the user group.
The digital payment industry classifies into P2P (Person-to-Person) or P2M (Person-
to-Merchant).

In P2P based digital payment, the transaction is recorded between two individuals.

In P2M, the transaction is recorded between a merchant (Flipchart/Kirana/other) and

an individual. The P2M has contributed 40% to the total volume and 19% on a
total value basis in FY21.

In this article, we will be studying the business model of BharatPe because of its
unique strategies and getting into the top ranks of the digital payments industry
within a short span of three to four years since its inception.

BharatPe

Unlike PhonePe and GooglePe, the founders of the BharatPe UPI decided to work
on a single QR Code application. The payment system was closed-loop before
BharatPe entered the market.

If the merchant was signed up with the PhonePe, the merchant was left with no
choice but to use only a valid PhonePe QR code for the transaction.
With BharatPe entering into the market, it proposed a unique value proposition that
attracted a lot of merchants because of interoperable QR codes for payments

. The other contributing reason that contributed to broader acceptance of the

BharatPe by merchants is Zero MDR.

Well, then the question that you may ask here is: What is the model of
working as a business for BharatPe?

Here is the answer by Ashneer Grover to it:

“One, margins were low in retail; and two, shopkeepers won’t pay for service.
But he did realise shopkeepers were ready to pay interest on loans. That’s
when he decided to do something in the fintech space, with merchants at the
centre.”

We should analyze why did the founder go for such a strategy? What outcomes did
this strategy result in?

To answer the above questions, we need to understand the margins.

The Merchants make nearly 15% and take away 6-7% profit after deducting the cost
to run their business. The problem here is an MDR of 1.5%. When you use a digital
platform like PhonePe, Google Pay, or PayTm because of MDR, the profit margin
reduces to 4.5%.

This is demotivating for any merchant to use for transaction purposes and on top of
this, as the QR code operators operated in a closed-loop.

BharatPe provided this service for free and made the interoperability of QR code
easily accessible which pulled the other players to become interoperable and keep
the MDR at 0%.

The company makes money through lending. It is a well-played marketing strategy

that the company has used to make money. If you visit the website or operate the
app, you will see something like this “earn 12% interest”.

You don’t see that the company also earns 12% when you lend money to a peer. So
basically, BharatPe charges 2% monthly to the debtor and passes 1% per month to
the lender. That is where big money comes in for the company.

The exciting part is that the company said that their repayment of loans stood at
96%.
Understanding how the loan model works for BharatPe as a revenue
driver:

The company has developed Artificial Intelligence (AI) backed algorithm that studies
the transaction of merchants and, based on that, tries to decode the business’s cash
flow.

This is further used to know the merchant’s loan history and credit score, which is
further processed for a willing debtor to disburse a loan by NBFC partner of
BharatPe without asking for any collateral in return for the cashless loan.

These are unsecured loans ranging between INR 20,000 to INR 7 lakhs for 12
months with a monthly charge of 2% for the debtor.

Currently, BharatPe processes loans worth about ₹300 crores each month.

Understanding the cost drivers

The cost drivers for the company lies in a grey area because of the unexplained
miscellaneous section. This section accounts for nearly 50%-70% of every financial
year. These expenses had blown up 11.6 times to Rs 141.8 crore during FY20 from
Rs 12.2 crore in FY19.

IT expenses also shoot up nearly 7.3x, followed by an 11.2x increase in costs under
the employee benefits category.

Overall, the cost drivers are taking a toll heavily on the revenue, especially when
company transactions are undisclosed.

Will the company be profitable?

Although the company has taken about 8 – 10% of the market share, it is still a very
nascent stage startup to be profitable. Currently, the company is aggressively
focusing on acquiring consumers and increasing the market share to beat the giants
like PhonePe and Google Pay. It should also be noted that

The National Payments Corporation of India has set out new guidelines for digital
payment apps limiting their share in the overall volume of transactions on the unified
payment interface at 30% in a bid to enforce parity in the country’s fast-growing
digital payments industry.

Way forward for BharatPe:

The company has also launched secure lending on its platform, providing loans in
exchange for collateral.

“We have just launched our first secured lending product in the form of gold loan,”
Sameer says.
 “Over a period, we will launch more and more products like auto loans, loans
against property and so on. Therefore, the focus is to launch and scale a series of
merchant-focused lending products for the business.”

Story Contributors: 

Sanket Chhajed BharatPe became very popular after its launch in 2018 among
businessmen as it solved a unique problem. BharatPe's boost generally
happened during the pandemic when no payment app was charging transaction
fees below 1.5%.

This was the time when BharatPe cashed in on the opportunity. They made
transactions absolutely free.

This is why a lot of business owners who had to do large transactions daily,
shifted to BharatPe. Today, it has more than 7.5 million active users in its app.
Apart from providing free transactions, it also has solved a number of other
problems.

There is also a lot more to see about the business model which has grown to
such an extent in such a small time. So, without any further ado, let us talk about
the BharatPe business model.

About BharatPe
BharatPe is a fintech company headquartered in Bangalore. This payment
aggregator has enabled transactions without any kind of fees.

It has leveraged UPI  to enable this. It is a QR-based payment aggregator by

which you can do any kind of transaction using the app.

BharatPe was founded by Ashneer Grover, Bhavik Koladiya, and Shashvat

Nakrani. All of these founders have a great profile. Ashneer Grover and
Shashvat Nakrani are alumni of IIT Delhi. Ashneer Grover is a resident of South
Delhi and has also graduated from IIT Delhi.

He has been working with startups for a pretty long time. Previously he was also
the CFO of Grofers, the grocery e-commerce giant. Ashneer has also led the
Corp Dev for Amex India.

Bhavik Koladiya has decent knowledge and experience about Fintech in general.
He is heading the product and technology of the company.

Shashvat Nakrani is originally from Bhavnagar and is a student of IIT Delhi of

2015-2019. He has done his B-Tech in Textile engineering.
Business Model of BharatPe

BharatPe has a very unique business model and because of this, it has grown

exponentially. The major growth of BharatPe happened during the pandemic. In
this time, they devised a smart method to expand.

They leveraged UPI to enable absolutely free transactions. BharatPe was

providing this when its competitors were charging fees less than 1.5 %. This is
why a lot of vendors started moving to BharatPe.

Making transactions free encouraged more people to use the platform. It also
kind of did indirect marketing of BharatPe. When the vendors came on this
platform, they started exploring the platform in a great way.

The platform has been designed as a one-stop solution for all kinds of payments.
They have devised various kinds of products to cater to the people.

The company has launched the Xtraincome card which is an easy transaction

solution, very helpful for business owners. It also gives you a cashback of 1%
whenever you do a transaction with it.

BharatPe XtraIncome Card

These applications are actually solving the main pain points of the businessman.
Apart from this, they have also introduced BharatSwipe which is an innovative
card swapping system. Another product is called BharatPe digital gold.
How does BharatPe Make Money?

BharatPe earns its revenue by providing macro to microloans to its

business owner. A working professional or businessmen get loans very easily
but small business owners face problems while applying for the loan as their
CIBIL score is low.

BharatPe tracks the person's transaction using its various products like
Xtremecards and evaluates their capability to return the loan. According to it,
they provide microloans to small businessmen without much paperwork.

They do not provide loans using the CIBIL score. This solution accurately serves
the pain points of small businesses. This is the main source of revenue for the
app.

BharatPe Funding

BharatPe has raised a total of $700 million. They have presently gone through 12
rounds of funding. Apart from that, the company has raised a debt of 100 crores.

They have secured funding of $370 million from Tiger Global Management.

Apart from that they also have acquired funding from Dragoneer group, Ribbit
Capital, Coatue Management.
What is Unique about BharatPe

Recently BharatPe has upgraded itself by collaborating with NBFC which are
allowed to launch a 12% club by the RBI. This will give them a lot of benefits as
compared to its competitor's who are having the same product.

This is because now any customer can go ahead and invest and can get upto
12% interest. They can borrow upto 10 lakhs.

Growth of BharatPe

Since its inception in 2018, this company has shown rapid growth. Today
BharatPe ranks 4th after Paytm, Google Pay, and PhonePe in terms of users.
Apart from that, it was quick in releasing products which actually solved the
problem of merchants and the public at large.

Services like 0% fees on any transaction. Products like BharatSwipe and

Xtraincome card are unique innovations to solve customer problems. They have
also come up with innovative gold loans schemes.

BharatPe has an impressive business model. The whole business is working

around solving various pain points of small businesses. Their products are
reliable which has led to their word-of-mouth marketing initially. Today they have
more than a million merchants using their platforms. BharatPe's business model
is a unique model and an entrepreneur can learn a lot from them.
FAQs
What does BharatPe do?
BharatPe is designed as a fintech company to empower small merchants and
kirana shop owners. The company brings QR codes for UPI payments, Bharat
Swipe, and an array of fintech products, including small business financing and
more.

How many people use BharatPe?

BharatPe serves 7.5 million+ merchants in more than 140 cities of India, as of
January 2022.

How does BharatPe make money?

BharatPe earns revenue by providing loans to small business merchants. A major

portion of the BharatPe revenue comes from its merchants and its lending
products.

Who created BharatPe?

Ashneer Grover and Shashvat Nakrani founded BharatPe in 2018.

Is BharatPe a government company?

No, BharatPe is a private fintech company founded by Ashneer Grover and

Shashvat Nakrani in 2018.

Who is the CEO of BharatPe?

The current CEO of BharatPe is Suhail Sameer.

 CHAPTER 4 DATA ANALYSIS

BharatPe Overview
 Founded

 2018
 Status

 Private
 Employees

 1,300
 Latest Deal Type

 Debt
 Latest Deal Amount

 $14M
 Investors

 29
BharatPe General Information
Description
Developer of merchant payment application designed to promote and offer
digital payment services.

The company's application offers clients with interoperable unified

payments interface quick response codes for accepting payments from
customers, enabling merchants to accept payments and conduct business
transactions in a smooth and inexpensive manner.

Contact Information
 Website
www.bharatpe.com
Ownership Status
Privately Held (backing)
Financing Status
Venture Capital-Backed
Primary Industry
Financial Software
Other Industries
Other Financial Services
Primary Office
 A-45, Corner Market, Malviya Nagar
 Opposite Panchshila Rendezvous
 New Delhi, Delhi 110017

BharatPe Timeline
Financing RoundCaptured Employee CountEstimated Employee Growth

BharatPe Valuation & Funding

Deal Type Date Amount Raised to Date Post-Val Status

12. Debt – General 25-Oct-2021 $14M 00000 Completed

11. Later Stage VC (Series E) 03-Aug-2021 00000 00000 00.000 Completed

10. Debt – General 10-May-2021 00.000 00000 Completed

9. Later Stage VC (Series D) 11-Feb-2021 00000 00000 00000 Completed

8. Debt – General 06-Jan-2021 000.00 00000 Completed

7. Secondary Transaction - Private 01-Dec-2020 00000 Completed

 Deal Type Date Amount Raised to Date Post-Val Status

6. Later Stage VC (Series C) 23-Feb-2020 0000 00000 00000 Completed

5. Accelerator/Incubator 05-Dec-2019 0000 Completed

4. Later Stage VC (Series B) 26-Aug-2019 $50M $68M 00000 Completed

3. Early Stage VC (Series A1) 01-Feb-2019 $15.5M $18M Completed

BharatPe Cap Table

Stock # of Shares Par Value Dividend Original Liquidation Liquidation

Authorized Rate (%) Issue Price Pref. Multiple

Preference 00,000 00.000000 00000.00 00000.00 00

Ordinary 0 00.000000 000000.00 000000.00 00

Preference 2,348 $1.341901 $422.91 $422.91 1x

Seed 1,476 $1.341901 $233.36 $233.36 1x

BharatPe Comparisons
Description

Primary
Industry

HQ Location

Employees

Total Raised

Post Valuation

Last Financing Detba

r companies. Personalize which data points you want to see and create
visualizations instantly.
 BharatPe Competitors (23)

Company Name Financing Status Location Employees Total

Raised

BillDesk Private Equity-Backed Mumbai, India 000 000.00

000000 Venture Capital-Backed Mumbai, India 000 00.000

000000 Venture Capital-Backed Bangalore, India 000 000.00

00000000 0000000 0 Venture Capital-Backed Bangalore, India 000 000.00

0000 Formerly VC-backed Amsterdam, Netherlands 0000 000

BharatPe Executive Team (23)

Update this profile

Name Title Board

Suhail Sameer Chief Executive Officer, Board Member and Group President

Dhruv Bahl Chief Operating Officer

Vijay Aggarwal Chief Technology Officer

Jasneet Kaur Chief Human Resources Officer

Smriti Handa Chief Human Resources Officer

BharatPe Board Members (11)

 Name Representing Role

Harshjit Sethi Sequoia Capital India Board Member

Jitendra Gupta Self Board Member

John Weinstein BharatPe Board Member

Kewal Handa Self Board Member

Meyer Malka Ribbit Capital Board Member

BharatPe Signals

Growth Rate

0.80%Weekly
Growth

Weekly Growth0.80%, 93rd %

-35.5%.530%
 219xMedian

Size Multiple219x, 100th %ile

Key Data Points

-financial metrics help you

Highlights

Funding Rounds  10
 Total Funding Amount  $680.5M

Lead Investors 12

Investors 23

Funding
BharatPe has raised a total of $680.5M in funding over 10 rounds. Their latest funding was raised
on Oct 25, 2021 from a Debt Financing round.BharatPe is funded by 23 investors. MAS Financial
Services Ltd. and Northern Arc are the most recent investors.

Funding Rounds

Edit Funding Rounds Section

Number of Funding Rounds 10

Total Funding Amount $680.5M

BharatPe has raised a total of $680.5M in funding over 10 rounds. Their latest funding was

raised on Oct 25, 2021 from a Debt Financing round.

Which funding types raised the most money?SHOW

How much funding has this organization raised over time?SHOW

Annou Number
Transaction Money
nced of Lead Investors 
Name  Raised 
Dat Investors 

Oct 25, 1 ₹1B MAS Financial Services Ltd.

2021
Annou Number
Transaction Money
nced of Lead Investors 
Name  Raised 
Dat Investors 

Debt Financing
- BharatPe

Aug 2 ₹2B —
19,
2021
Debt Financing
- BharatPe

Aug 4, 8 $350M Tiger Global Management

2021

Series E -
BharatPe

May 1 ₹500M Northern Arc

10,
2021
Debt Financing
- BharatPe

Feb 11, 7 $108M Coatue

2021

Series D -
BharatPe
Annou Number
Transaction Money
nced of Lead Investors 
Name  Raised 
Dat Investors 

Jan 6, 4 ₹2.5B Alteria Capital, InnoVen Capital, Trifecta Capital Advisor

2021

Debt Financing
- BharatPe

Feb 24, 5 $75M Coatue, Ribbit Capital

2020

Series C -
BharatPe

Jun 4, 5 $50M Insight Partners, Ribbit Capital, Steadview Capital

2019

Series B -
BharatPe

Feb 21, 4 $14.5M Sequoia Capital India

2019

Series A -
BharatPe

Oct 1, 6 $2M BEENEXT, Sequoia Capital India

2018
Investors
Number of Lead Investors 12

Number of Investors 23

BharatPe is funded by 23 investors. MAS Financial Services Ltd. and Northern Arc are the

most recent investors.

Which investors participated in the most funding rounds? SHOW

Investor Name  Lead Investor  Funding Round  Partners 

Yes —

MAS Financial Services Ltd. Debt Financing - BharatPe

— Bama Balakrishnan

Northern Arc Debt Financing - BharatPe

— —

IIFL Wealth Management Debt Financing - BharatPe

— —
 Investor Name  Lead Investor  Funding Round  Partners 

Ribbit Capital Series E - BharatPe

— —

Dragoneer Investment Series E - BharatPe

Group

— —

Insight Partners Series E - BharatPe

Yes —

Tiger Global Management Series E - BharatPe

— —

Amplo Series E - BharatPe

— —

Coatue Series E - BharatPe

 Investor Name  Lead Investor  Funding Round  Partners 

— Harsh it Sethi

Sequoia Capital India Series E - BharatPe

CHAPTER 5 CONCLUSION, LIMITATIONS AND

RECOMMENDATIONS

FINDINGS

1.) Majority (38.85%) of the respondents are age between 18 to 29 years.

2.) Majority (61.15%) of the respondents are Male.

3.) Majority (47.13%) of the respondents are Graduate.

4.) Majority (33.12%) of the respondents are Student.

5.) Majority (57.32%) of the respondents are married.

6.) Majority (62.42%) of the respondents are agree.

 7.) Majority (68.15%) of the respondents concerned about security.

8.) Majority (68.79%) of the respondents are Banking software on PC or

mobile.

9.) Majority (43.95%) of the respondents are waiting/queues.

10.) Majority (45.22%) of the respondents don’t trust the bank security.

11.) Majority (87.26%) of the respondents are satisfying.

12.) Majority (71.97%) of the respondents are yes.

13.) Majority (62.42%) of the respondents are anti-virus software.

SUGGESTION
Provide flexible Payment Options.

A study found that websites providing 4 or more payment methods other

than credit cards had a sales conversion rate 12 % higher than those
offering just one option. So, it is highly suggested that you accept payment
in many ways ranging from COD to bank transfer, PayPal, Braintree, credit
cards, debit cards, etc.

However, it is not necessary to accept all payment methods, you need to

research your target audience and find out which payment methods
preferred among the majority and implement only these methods to your
store.
Besides, like retail giants – Amazon.com or Ebay.com – they allow
payment in over 100 currencies, it will be much better if you can accept
payment in different currencies, at least two in category, your national one
and an international one.

Shortly, diversifying your payment methods is one way to make your

customers ready to process to checkout.

Online purchasers take serious attitude to your compromise to keep

their information safe from hackers, esp. financial data or the bank
account number.

A survey by e-Consultancy found that 58% of respondents dropped out of

the checkout page due to concerns about payment security. Thus,
remember to always showcase the security measures you have in place.
For example, you comply with the standards of the PCI Security Standards
Council (PCI SSC). This is the first thing to gain trust from your customers’
right after their buying actions and ensure the next deals in future.

REFERENCES

[1] Reserve Bank of India (2017) Handbook of Statistics on the Indian

Economy. Reserve Bank of India.

[2] Committee on Digital Payments, Ministry of Finance—

Government of India 2006.

[3] Reserve Bank of India Annual Report 2015-16, Reserve Bank of India, 2016.

[4] Committee on Payments and Market Infrastructures, Bank of

International Settlements (2015) Statistics on Payment, Clearing and
 Settlement Systems in the CPMI Countries. Committee on Payments and
Market Infrastructures, Bank of International Settlements, Switzerland.

[5] Government of India (2007) Payments and Settlements Systems

Act. Gazette of India, Government of India, New Delhi.

[6] Reserve Bank of India (2012) Payment Systems In India Vision

2012-15. Department of Payment and Settlement Systems, Reserve
Bank of India.

[7] Government of India (2016) Gazette Notification No 2652,

Gazette of India, Government of India, New Delhi.

[8] National Payments Corporation of India (NPCI) (2016) NPCI

Presents Unified Payments Interface (UPI) System, NPCI Press Release. 11
April 2016, National Payments Corporation of India (NPCI), Mumbai.

[9] National Payments Corporation of India (NPCI) (2016) NPCI’s

Unified Payments Interface (UPI) Set to Go Live, NPCI Press Release. 25
August 2016, National Payments Corporation of India (NPCI), Mumbai.

[10] Reserve Bank of India (2009) Payment Systems In India Vision 2009-12.
Department of Payment and Settlement Systems. Reserve Bank of India.

[11] Banking Panorama in India, Anil Kumar Upadhyaya, Chapter

National Payments Corporation of India.

[12] National Payments Corporation of India (2013) Banker’s FAQs for Immediate
Payment Service (IMPS). National Payments Corporation of India, Mumbai, April.

[13] Reserve Bank of India (2016) Reserve Bank of India Annual Report 2014-15.
Reserve Bank of India.
[14] Reserve Bank of India (2016) Reserve Bank of India Annual Report 2015-16.
Reserve Bank of India.

[15] Reserve Bank of India.

https://rbidocs.rbi.org.in/rdocs/ATM/PDFs/ATM072017B116CE3C8542429A8252F
4C42D717773.PDF

[16] Shubha (25 May 2015) Comprehensive, 2015, U.S. Market Analysis of POS
Terminals and EMV & NFC Status Review. Let’s Talk Payments.
https://letstalkpayments.com/comprehensive-2015-u-s-market-analysis-of-pos-
terminals-and-emv-nfc-status-review/

[17] National Payments Corporation of India (2016) Unified Payment Interface

API and Technology Specifications. National Payments Corporation of India,
Mumbai.

[18] Reserve Bank of India (2017) Electronic Payment Systems—Data

Dissemination. Reserve Bank of India.

[19] National Payments Corporation of India (2017) BHIM Analytics.

National Payments Corporation of India, Mumbai.
CONCLUSION
Google Pay is taking giant steps at revolutionising the payments market in India.
Consumers/users will miss a hoard of features and easy money transfer
transactions if they don’t use the app. If you are skeptical about mobile
banking, check what makes it safe.

UPI has enabled mobile phone to be used as a primary payment device for
making and accepting payments. UPI leverages high teledensity in India to
enable every bank account holder to make digital transactions using a
mobile phone.
India, which has a poor merchant payment acceptance infrastructure UPI,
enables even the smallest merchant to start accepting digital payments
without the need for any POS machine.
UPI has done away with the need to know the
complicated payment details of the transacting parties,
which makes payments easy and seamless for
transacting parties. Compared to all other payment
systems it would not be misplaced to saythat UPI is the most
advanced payment system in the world. With its standard set of APIs, UPI has
allowed different banks to communicate with each other and has enabled
interoperatability between disparate bank payment systems. In UPI there are no
intermediaries like in card networks, which allows for low transaction costs and
instant settlement. While all other digital modes of payments like cards etc. take
days to complete the transaction and settlement process, UPI allows payment to be
completed in seconds. UPI works on a safe, secure and robust platform with ample
security features to make it more secure than any extant payment systems.
Introduction of biometric authentication in UPI will not only make payments more
secure but will also take a huge leap towards integrating next generation technology
with current payments system. UPI can be a great enabler for financial inclusion in
India and allow a huge set of population to be a part of digital economy.