Bengaluru: fintech Firm BharatPe on Wednesday said it raised $370 million in a funding round led by investment giant Tiger Global, giving the company a valuation of $2.85 billion.
The fund-raising, which pushed three-year-old BharatPe into the unicorn club, gives the company capital as it acquires troubled lender Punjab and Maharashtra Cooperative Bank with Centrum Financial Services to form a small finance bank.
Ashneer Grover, Co-Founder and Managing Director, BharatPe said, “We now have $0.5 billion in cash on the books and are well capitalized to fulfill our mandate of creating India’s first truly digital bank. ”
existing investors Sequoia Growth, insight partnerIn an emailed statement, BharatPe said, Cotue Management, Amplo and Ribbit Capital have also invested in Series E fundraise.
Indian tech startups have registered a jump in funding this year as investors bet on companies that are likely to benefit in the post-pandemic world, owned by food delivery firm Swiggy and Walmart Inc. Flipkart raise capital in july
The fund-raising, which pushed three-year-old BharatPe into the unicorn club, gives the company capital as it acquires troubled lender Punjab and Maharashtra Cooperative Bank with Centrum Financial Services to form a small finance bank.
Ashneer Grover, Co-Founder and Managing Director, BharatPe said, “We now have $0.5 billion in cash on the books and are well capitalized to fulfill our mandate of creating India’s first truly digital bank. ”
existing investors Sequoia Growth, insight partnerIn an emailed statement, BharatPe said, Cotue Management, Amplo and Ribbit Capital have also invested in Series E fundraise.
Indian tech startups have registered a jump in funding this year as investors bet on companies that are likely to benefit in the post-pandemic world, owned by food delivery firm Swiggy and Walmart Inc. Flipkart raise capital in july
.