BharatPe Boosts Stake in Trillion Loans with $8-9 Million Investment

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BharatPe Boosts Stake in Trillion Loans with $8-9 Million Investment

Fintech unicorn BharatPe has reportedly increased its stake in its non-banking financial company (NBFC) arm, Trillion Loans, through a significant in

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Fintech unicorn BharatPe has reportedly increased its stake in its non-banking financial company (NBFC) arm, Trillion Loans, through a significant investment of $8-9 million. With this infusion of capital, BharatPe’s total ownership in Trillion Loans has now risen to 60%, according to sources cited by Entrackr.

In addition to this latest investment, Business Outreach has reported that BharatPe is planning to fully acquire Trillion Loans within the next two years. However, BharatPe has declined to comment on these developments when approached by Inc42.

This investment marks BharatPe’s second major financial commitment to the Mumbai-based NBFC. The company first acquired a 51% stake in Trillion Loans in April of the previous year. At that time, BharatPe described the acquisition as a strategic move to bridge credit gaps between businesses and consumers in India.

Shashvat Nakrani, COO of BharatPe, stated, “Acquiring a controlling stake in Trillion Loans aligns with BharatPe Group’s broader mission. It will enable us to provide access to capital for a wider range of underserved and unbanked businesses and customers.”

Founded in 2018 by Achal Mittal and Gautam Adukia, Trillion Loans offers a variety of tailored credit products, including SME loans, personal loans, vehicle loans, and consumer loans. The NBFC has established partnerships with prominent names like BharatPe Money, Ninjacart, Gokwik, and OTO Capital.

Trillion Loans reported a profit of INR 1.05 crore for the fiscal year 2022-23 (FY23), a significant turnaround from the loss of INR 28.58 lakh in the previous year. Its revenue from operations soared to INR 232.61 crore for FY23, marking a staggering growth of over 33 times from INR 6.97 crore in FY22.

This investment follows BharatPe’s recent move to raise INR 85 crore through non-convertible debentures (NCDs) from Trifecta Venture and InnoVen Capital in July. Earlier in the year, Trillion Loans also secured a separate debt round from Credit Saison.

In terms of financial performance, BharatPe’s consolidated operating revenue surpassed INR 1,000 crore in FY23, reaching INR 1,028.9 crore, which represents a 125% increase from INR 456.8 crore in the previous fiscal year. However, the company’s losses also widened, with a net loss of INR 926.9 crore in FY23, up 12% from INR 828.6 crore the year before.

As BharatPe continues to expand its financial footprint, this latest move underscores its commitment to enhancing its lending capabilities and addressing the credit needs of underserved segments in the market.

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