Tag: BharatPe

  • BharatPe Group Reports Rs 209 Crore EBITDA Loss In FY24 | Economy News

    New Delhi: Fintech firm BharatPe Group announced its financial performance for FY 2023-24 on Wednesday, reporting a consolidated EBITDA loss (before share-based payment expense) of Rs 209 crore for the last financial year. The consolidated EBITDA loss was Rs 826 crore in FY 2022-23.

    According to the company, its consolidated revenue from operations grew by 39 per cent YoY (year-on-year), from Rs 1,029 crore to Rs 1,426 crore, and consolidated loss before tax was reduced by 50 per cent YoY, from Rs 941 crore to Rs 474 crore.

    The company’s average merchant lending portfolio from loans originating through its platform grew by 40 per cent year-on-year (FY24 vs FY23). The company said that it witnessed a great response for its soundbox devices in FY24.

    BharatPe also said that its consolidated cash burn was reduced by 85 per cent on a YoY basis. CEO Nalin Negi said: “FY24 was a milestone year for us as BharatPe turned EBITDA positive in October 2024. Also, we considerably slashed our cash burn in FY24 and are on track to build a sustainable and profitable business.”

    “Over the last year, we have been able to partner with renowned financial institutions to extend credit access to merchants, which is a great validation for our business. We will focus on growing our lending vertical, launching new offerings across POS, soundbox, and scaling our consumer vertical,” he added.

    The company has diversified its portfolio into new categories to drive business growth. Recently, BharatPe rebranded its PostPe app to BharatPe, marking its entry into the consumer payments space. BharatPe has raised over US$583 million in equity till date.

    The company’s list of investors includes Peak XV Partners (formerly known as Sequoia Capital India), Ribbit Capital, Insight Partners, Amplo, Beenext, Coatue Management, Dragoneer Investment Group, Steadfast Capital, Steadview Capital and Tiger Global.

  • BharatPe, PhonePe Settle Trademark Dispute On Using ‘Pe’ Suffix | Companies News

    Bengaluru: The BharatPe Group and PhonePe Group on Sunday announced that they have amicably settled all long-standing legal disputes pertaining to the use of the trademark with the suffix “Pe”. This comes after a long-drawn legal dispute across multiple courts, over the last 5 years.

    “The settlement will put an end to all open judicial proceedings,” the announcement said, adding that the companies have withdrawn all oppositions against each other in the trademark registry. Rajnish Kumar, Chairman of the Board, BharatPe called the move “a positive development for the industry”, while appreciating “the maturity and professionalism shown by the Management of both sides”.

    He added that this will help the companies to move “ahead to focus their energy and resources in building robust digital payment ecosystems”. (Also Read: IOC, GAIL, ONGC Fined for Fourth Straight Quarter For Failure To Appoint Directors)

    Both organisations will also undertake to carry out other necessary steps to comply with the obligations under the settlement agreement in respect of all cases before the Delhi and Bombay High Courts.

    Sameer Nigam, Founder and CEO, PhonePe, expressed happiness over the “amicable resolution”. (Also Read: Swiss Cheese, Chocolate, And Watches To Get Cheaper For Indian Consumers)

    He noted that the outcome will help both companies “focus collective energy on growing the Indian fintech industry as a whole”.

  • BharatPe One All-In-One Payment Device Launched, Integrates POS, QR, Speaker Into One Device | Personal Finance News

    New Delhi: Fintech company BharatPe on Tuesday announced the launch of BharatPe One –an all-in-one payment product that integrates POS, QR, and speaker into one device.

    “This innovative product is designed to streamline transactions for merchants, offering versatile payment acceptance options including dynamic and static QR code, tap-and-pay and traditional card payment options, across a wide range of debit and credit cards,” BharatPe said in a statement .

    The company said that it plans to launch the product in 100+ cities in the first phase. It will further scale it to 450+ cities over the course of the next 6 months.

    With real-time transaction updates and instant voice payment confirmation, BharatPe One offers a smooth and hassle-free experience for both merchants and customers alike, BharatPe said.

    Equipped with a high-definition touchscreen display, 4G and Wi-Fi connectivity, and powered by the latest Android operating system, BharatPe One delivers enhanced performance and security, the company added.

    With user-friendly interface, portable design, and comprehensive transaction dashboards, BharatPe One caters to the diverse needs of the offline merchants, it further said.

     “We have received an overwhelming response from our merchants in the pilot phase and we reckon that this will be another game changer for the digital payments ecosystem, further consolidating our position as a trailblazer in the fintech industry,” RijishRaghavan, Chief Business Officer- PoS Solutions, BharatPe said.

  • Meet Madhuri Jain, Ashneer Grover’s Spouse Who Does not Like Him Having a look At Mouni Roy’s Bikini Picture

    House EntertainmentMeet Madhuri Jain, Ashneer Grover’s Spouse Who Doesn’t Like Him Having a look At Mouni Roy’s Bikini Picture

    Ashneer Grover and Madhuri Jain are married for just about 17 years. In an interview not too long ago, the startup skilled printed how his spouse were given disenchanted after he preferred an image of Mouni Roy in a bikini.

    Ashneer Grover poses along with his spouse Madhuri Jain for a photoshoot (Picture: Instagram/ Ashneer Grover)

    New Delhi: Ashneer Grover, Shark Tank India popularity and the co-founder of BharatPe is all reward for his spouse, Madhuri Jain. In his newest interview, he even spoke concerning the incident that made him realise how she could be very possessive of him. Talking to famous person couple Amrita Rao and RJ Anmol, Ashneer printed that he has now unfollowed actors like Mouni Roy and Disha Patani on social media as a result of he as soon as preferred the previous’s bikini image and disenchanted his spouse.

    WHEN ASHNEER GROVER LIKED MOUNI ROY’S BIKINI PICTURE

    The preferred start-up information discussed how he simply got here house to search out his spouse extraordinarily dissatisfied in him whilst he had no concept what he had executed to disenchanted her that a lot. “I am getting very scared. In the future, I preferred a photograph of Mouni Roy. I observe only a few folks on Instagram, round 60 folks. In that, I used to be following Mouni Roy too. Mouni Roy ne bikini me ek photograph dali (She submit a bikini percent). I preferred it (sic),” he mentioned whilst Madhuri, who was once provide with him at the display ‘Couple of Issues’ interjected and mentioned, “Yeh like karna banta hai (Is that this value liking)?”

    Ashneer and Madhuri are married for round 17 years and are folks to 2 youngsters. He as soon as printed that he began courting her once they would pass to training categories in combination in Delhi.

    WHO IS MADHURI JAIN, ASHNEER GROVER’S DOTING WIFE

    Madhuri and Ashneer make a robust pair along with their industry acumen and knack for working out the best time and quantity to spend money on a definite concept. The 2 were operating like a workforce for over 17 years and feature struggled thru so much in combination. Previous this 12 months, Ashneer took to social media to focus on that Madhuri was once one of the most very best feminine taxpayers within the nation after giving an advance tax of Rs 2.84 crore this fiscal 12 months.

    Madhuri Jain is likely one of the hottest startup buyers within the nation. She hails from Panipat, Haryana and has graduated from Vikas College in Panipat. She later pursued her upper schooling on the Indira Gandhi Nationwide Open College in Delhi (IGNOU). Madhuri even went on NIFT Delhi. Prior to serving to her husband along with his startup industry and being appointed as one of the most board contributors of Bharatpe sooner than the criminal case, she even labored for fashion designer Satya Paul.

    Madhuri Jain Grover @madsj30 is likely one of the very best feminine tax payers within the nation. She’s paid ₹2.84 crores of advance tax this monetary 12 months. She is killing it along with her birth up investments – in a 12 months the place the distance normally is falling aside. Kudos to all truthful tax payer percent.twitter.com/cRkeRRfgqx

    — Ashneer Grover (@Ashneer_Grover) March 15, 2023

    In February this 12 months, Ashneer and Madhuri introduced their new startup named ‘3rd Unicorn’ which reportedly concentrates on fable sports activities the use of the cricket-specific tool CrickPe.

    Ashneer’s Instagram profile is stuffed with footage appearing off their lavish way of life. He incessantly posts footage of his spouse having a look fashionable in vibrant outfits. In combination, they talk volumes of the luck a pair can reach if they’re bonded by way of love and mutual working out.

    Revealed Date: April 25, 2023 8:08 AM IST

  • Shark Tank Pass judgement on Ashneer Grover to Get Fired From BharatPe Below Suspicion of Fraud? Learn on

    Ashneer Grover, who’s making headlines nowadays for judging Shark Tank, is in a felony soup. It’s been reported in Reside Mint that the BharatPe co-founder and managing director is most likely going to be fired from the corporate beneath suspicion of fraud. The corporate has employed a brand new legislation company and is undertaking an investigation into the subject. A supply has knowledgeable the newsletter that Ashneer’s spouse Madhuri Jain, who’s the pinnacle of controls at BharatPe has additionally been fired. Madhuri owned a way boutique sooner than she joined BharatPe. “Every now and then, the corporate did check out to have a look at hiring a professional CFO (leader monetary officer), however Grover grew to become down that call,” the supply stated.Additionally Learn – Ashneer Grover Controversy: BharatPe Says Now not Fired Any Worker, Audit Is On

    When contacted BharatPe, they denied that the corporate had fired 15 workers. “The board of BharatPe has no longer terminated the services and products of any worker at this level. Experiences suggesting any termination are baseless and unfaithful. The board stays dedicated to an unbiased and thorough audit procedure. No motion has been taken or can be taken until the audit has been finished. We once more urge the media to not speculate upfront of the file and make a judgement according to uninformed resources,” the corporate stated in a remark. Additionally Learn – Impressed Via The Judges of Shark Tank India? Know Their Training {Qualifications}

    A file in Financial Occasions discussed the Shark Tank pass judgement on is looking for felony lend a hand amid mounting force on him to go out the corporate completely. Ashneer Grover is understood at the display for his blunt replies to pitchers requesting investments of their companies. He has been trending for his responses as other people like his no-nonsense manner. Additionally Learn – BharatPe Vs Kotak Mahindra Financial institution: As Each Events Ship Felony Notices To Each and every Different, Netizens Say Uninstall BharatPe App