BharatPe has been going through deafening times because of the issues around corporate governance, reported fraud, and the internal feud between the promoters and backers. While the impact of these issues on the company’s business will be known when BharatPe will file financial results for FY22, FY21, when none of these issues had surfaced yet, has turned out to be the first year of meaningful revenues for the fintech unicorn after generating revenue of Rs 6 crore for FY19 and FY20 combined.
The Delhi-based company saw its revenue from operations shoot up around 20X to Rs 119.1 crore during FY21 as collections from its business loans segment grew significantly, its annual financial statements with the Registrar of Companies (RoC) show.
BharatPe majorly acts as a facilitator for lending partners (financial institutions) to provide small-ticket loans for vendors' daily working capital needs on its platform.