BharatPe’s Pre-IPO Funding Plans
BharatPe is currently engaged in advanced negotiations to secure between $80-$100 million in a pre-IPO funding round, with Coatue Management leading the initiative, as per insights from two individuals familiar with the details. This marks the fintech unicorn based in Delhi’s first equity raise in four years.
According to one source, who requested anonymity due to the confidential nature of the discussions, “The round will also see participation from some new and existing investors. This aims to bolster the company’s financial foundation and set the groundwork for a potential public listing.”
The investment drive is being led by Amit Mukherjee, a new partner at Coatue, who has been actively collaborating with BharatPe’s management and board on preparations for the IPO.
Last week, BharatPe’s Chief Executive Officer Nalin Negi indicated that the firm would pursue a pre-IPO round, although he stated that a listing should not be anticipated in this fiscal year (FY26). Another insider mentioned that BharatPe aims to secure consistent profitability prior to filing its draft IPO papers.
While BharatPe opted not to comment on this development, inquiries directed to Coatue did not receive an immediate reply.
The last equity round for BharatPe took place in August 2021, a time when the firm entered the exclusive unicorn club. To date, it has raised over $650 million in equity and debt from prominent investors including Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, and Ribbit Capital, among others.
Recently, BharatPe announced that it achieved profitability in FY25, recording a pre-tax profit of Rs 6 crore (excluding ESOP costs) on revenues of Rs 1,800 crore. This milestone marks a significant turnaround for the company, which had faced losses for numerous years.
In the first nine months of FY25, BharatPe reached a break-even point at the EBITDA level after adjusting for employee stock options, while its net losses narrowed to Rs 148.8 crore during the same timeframe.
In April, BharatPe’s subsidiary, Resilient, received final approval from the Reserve Bank of India (RBI) to function as an online payment aggregator. This positions BharatPe among the select Indian fintech firms that possess an NBFC license (via Trillion Loans), a stake in a small finance bank (Unity SFB), and now a payment aggregator license.