BharatPe announced a noteworthy 182% growth in revenue for the fiscal year 2023. The company’s revenue from operations surged to Rs 904 crore, marking a substantial increase from Rs 321 crore in FY22. Concurrently, the loss before tax experienced a significant reduction from Rs 5,594 crore to Rs 886 crore. The merchant lending division displayed impressive growth, witnessing a 129% increase in facilitated loans, amounting to Rs 5,339 crore. The Swipe business observed a 63% surge in total payment value (TPV) with the installation of approximately 8 lakh new soundbox devices in FY23.
Nalin Negi, CFO and Interim CEO of BharatPe, emphasized the company’s commitment to creating value for merchants and stakeholders, underscoring the substantial progress achieved in various business verticals. Looking ahead, the strategic focus includes sustained profitability, scaling lending, POS, soundbox businesses, and the introduction of new merchant-centric products.
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BharatPe currently boasts a registered network of over 1.3 crore merchants spanning 450+ cities, processing more than 370 million UPI transactions. Collaborating with NBFCs, the company has facilitated the disbursement of loans exceeding Rs 12,400 crore.
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