Funding round
BharatPe Series C
BharatPe, which works in digital payment solutions development in South Delhi, raised $75M in a Series C round announced on 24 Feb 2020, led by Coatue and Ribbit, at a $400M post-money valuation. 5 firms took part, 1 of them already investors. It is BharatPe's second venture round on record; the one before was a Seed in Oct 2018.
$75M
Amount raised
$400M
Post-money valuation
$325M pre-money
5
Investors
2 leads
19%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced BharatPe at $400M after the new money. The $75M bought investors about 19% of the company. It came 16 months after BharatPe's Seed. It is 14% of the $555M BharatPe has raised in the venture rounds on record. BharatPe raised again 12 months later: a Series D round of $108M in Feb 2021, at $900M post-money.
BharatPe's funding rounds
BharatPe has 4 venture rounds on record and 8 other deals. This one is highlighted.
- Seed 1 Oct 2018 $2.0M
- Series C this round 24 Feb 2020, led by Coatue and Ribbit $75M$400M post-money
- Debt not a venture round 14 Jan 2021 $35M
- Debt not a venture round 17 Jan 2021 $20M
- Series D 12 Feb 2021, led by Coatue $108M$900M post-money
- Debt not a venture round 10 May 2021 $7.0M
- Series E 4 Aug 2021, led by Tiger Global $370M$2.85B post-money
- Debt not a venture round 19 Aug 2021 $27M
- Debt not a venture round 25 Oct 2021, led by MAS Financial Services $14M
- Debt not a venture round 19 Jan 2024, led by InnoVen Capital $100M
- Debt not a venture round 31 Jul 2024 $10M
- Debt not a venture round 6 May 2025, led by Neo Group and Trifecta Capital $15M
Investors
Who put money in
Coatue and Ribbit led the round with 3 other firms. Ribbit had backed BharatPe before.
Lead investors
Also in the round
- backs 42 venture-backed companies new investor
- Insight Partners backs 548 venture-backed companies new investor
- backs 29 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations and working capital.
- Scaling operations
- Working capital
Comparable rounds
How it compares
19 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $70M, and this round was close to the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 30 Mar 2020 | $45M | not disclosed | Greenspring Associates and Goodwater Capital |
| Rapyd Payment Processing & Point of Sale | 1 Oct 2019 | $100M | $1.00B | Oak HC/FT |
| Payment Processing & Point of Sale | 10 Jun 2020 | $24M | not disclosed | Elaia and Bpifrance’s Large Venture fund |
| Bolt Payment Processing & Point of Sale | 16 Jul 2020 | $50M | not disclosed | WestCap |
| Payment Processing & Point of Sale | 13 Aug 2020 | $100M | $500M | Eldridge Industries and Eldridge |
| Neon Payment Processing & Point of Sale | 2 Sep 2020 | $300M | not disclosed | General Atlantic |
| Greenlight Payment Processing & Point of Sale | 1 Sep 2020 | $215M | $1.20B | Canapi Ventures and TTV Capital |
| SpotOn Payment Processing & Point of Sale | 23 Sep 2020 | $60M | not disclosed | DST Global |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did BharatPe raise in its Series C round?
BharatPe raised $75M in its Series C round, announced in Feb 2020.
Who led BharatPe's Series C round?
Coatue and Ribbit led it, with Amplo, Insight Partners and Steadview Capital.
What was BharatPe's valuation at the Series C round?
$400M post-money ($325M pre-money).
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
19 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $70M, and this round was close to the median.
Did BharatPe raise again after this round?
Yes: a Series D round in Feb 2021 of $108M at $900M post-money.