BharatPe Turns EBITDA Positive: Clocks October 2023 as the First Profitable Month
Speaking on the milestone, Nalin Negi, CFO and Interim CEO, BharatPe, said, “BharatPe was started with the vision of empowering millions of offline merchants and MSMEs across the country, with best-in-class fintech products. This milestone reflects the trust bestowed upon us by our vast network of over 1.3 crores merchant partners. October was a great month for us- we achieved significant growth with loans facilitated on our platform.
Also, our digital payments verticals grew considerably, boasting a monthly transaction count exceeding 37 crores. We will continue to cater to the needs of our merchant partners as well as customers and our strategic focus will be to ensure sustained profitability across our business lines. In the coming months, we'll focus on scaling our lending, POS, and soundbox businesses.
We will also focus on launching new products tailored for our merchant partners while concentrating on the development of our consumer and NBFC businesses."
Nalin added, “This achievement is a testament to the dedication and hard work of our team. I would like to congratulate each and every team member of BharatPe for achieving this milestone. Moving forward, we continue to stay committed to building a sustainable business with growth across business lines.
We will continue to focus on driving financial inclusion across Bharat, empowering more offline merchant businesses. Our goal is to establish BharatPe as one of the largest merchant-first fintech companies in the country." About BharatPe Group
BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service.
