Bharat Pay is around Rs 2,745 crore. Bharat Pay has said it has raised US $ 370 million (about Rs 2,745 crore) led by Tiger Global. At the same time, its value was $ 2.85 billion.
The merchant payments and credit services provider said in a statement that the Series E round includes a $ 20 million secondary component. In the second component, employees with Employee Stock Option Plan (ESOP) have been given full cash, the statement said.
Bharat Pay said Tiger Global, along with Dragoneer Investment Group and Stead Fast Capital, were also involved in the round of funding. Five of the company’s existing seven institutional investors participated in the round.
Bharat Pay co-founder Ashneer Grover has been appointed as Managing Director of the company and Suheel Sameer as CEO. Grover said the Bharat Pay will continue to focus on the lending business and that small businesses in this segment will be our main customers.
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According to Ashner Grover, our initial plan was to raise $ 250 million. However, the round is over-subscribed. In the coming years, we may consider listing in public markets. Our overall liquidity runway is $ 500 million. It will be good for our future. “