Funding round
BharatPe Series D
BharatPe, which works in digital payment solutions development in South Delhi, raised $108M in a Series D round announced on 12 Feb 2021, led by Coatue, at a $900M post-money valuation. 7 firms took part, 7 of them already investors. It is BharatPe's third venture round on record; the one before was a Series C in Feb 2020.
$108M
Amount raised
$900M
Post-money valuation
$792M pre-money
7
Investors
1 lead
2.3x
Step-up from the Series C
$400M in Feb 2020
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced BharatPe at $900M after the new money, 2.3 times the $400M of its Series C (Feb 2020). The $108M bought investors about 12% of the company. It came 12 months after BharatPe's Series C. It is 19% of the $555M BharatPe has raised in the venture rounds on record. BharatPe raised again 6 months later: a Series E round of $370M in Aug 2021, at $2.85B 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 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 this round 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 led the round with 6 other firms. Coatue, Ribbit, Insight Partners and Steadview Capital and 3 more had backed BharatPe before.
Lead investor
- Coatue backs 229 venture-backed companies existing investor
Also in the round
- Ribbit backs 126 venture-backed companies existing investor
- Insight Partners backs 548 venture-backed companies existing investor
- backs 29 venture-backed companies existing investor
- backs 100 venture-backed companies existing investor
- backs 42 venture-backed companies existing investor
- Sequoia Capital backs 589 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
21 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $200M, and this round was 54% of the median. The closest in time, other companies' Series D rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Rapyd Payment Processing & Point of Sale | 13 Jan 2021 | $300M | $2.50B | Coatue |
| Payment Processing & Point of Sale | 31 Mar 2021 | $120M | not disclosed | JS Capital Management LLC and Soros Capital Management LLC |
| Airwallex Payment Processing & Point of Sale | 23 Mar 2021 | $100M | $2.60B | Greenoaks |
| Payment Processing & Point of Sale | 15 Jan 2021 | $100M | not disclosed | Warburg Pincus and Goodwater Capital |
| Payment Processing & Point of Sale | 1 Apr 2021 | $425M | $7.40B | Tiger Global |
| Plaid Payment Processing & Point of Sale | 7 Apr 2021 | $425M | $13.40B | Altimeter and Silver Lake |
| Greenlight Payment Processing & Point of Sale | 27 Apr 2021 | $260M | $2.30B | Andreessen Horowitz |
| CRED Payment Processing & Point of Sale | 6 Apr 2021 | $215M | $2.20B | Alpha Wave Global and Coatue |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did BharatPe raise in its Series D round?
BharatPe raised $108M in its Series D round, announced in Feb 2021.
Who led BharatPe's Series D round?
Coatue led it, with Ribbit, Insight Partners, Steadview Capital, BEENEXT and Amplo and 1 more.
What was BharatPe's valuation at the Series D round?
$900M post-money ($792M pre-money).
How does it compare with other Series D rounds in Payment Processing & Point of Sale?
21 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $200M, and this round was 54% of the median.
Did BharatPe raise again after this round?
Yes: a Series E round in Aug 2021 of $370M at $2.85B post-money.