Funding round
BharatPe Series E
BharatPe, which works in digital payment solutions development in South Delhi, raised $370M in a Series E round announced on 4 Aug 2021, led by Tiger Global, at a $2.85B post-money valuation. 8 firms took part, 6 of them already investors. It is BharatPe's fourth venture round on record; the one before was a Series D in Feb 2021.
$370M
Amount raised
$2.85B
Post-money valuation
$2.48B pre-money
8
Investors
1 lead
3.2x
Step-up from the Series D
$900M in Feb 2021
13%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced BharatPe at $2.85B after the new money, 3.2 times the $900M of its Series D (Feb 2021). The $370M bought investors about 13% of the company. It came 6 months after BharatPe's Series D. It is 67% of the $555M BharatPe has raised in the venture rounds on record. No later venture round is on record for BharatPe.
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 12 Feb 2021, led by Coatue $108M$900M post-money
- Debt not a venture round 10 May 2021 $7.0M
- Series E this round 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
Tiger Global led the round with 7 other firms. Ribbit, Steadfast Capital, Amplo and Coatue and 2 more had backed BharatPe before.
Lead investor
- Tiger Global backs 391 venture-backed companies new investor
Also in the round
- Ribbit backs 126 venture-backed companies existing investor
- Steadfast Capital existing investor
- backs 42 venture-backed companies existing investor
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- Coatue backs 229 venture-backed companies existing investor
- Insight Partners backs 548 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, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Series E rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $251M, and this round was 1.5 times the median. The closest in time, other companies' Series E rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Rapyd Payment Processing & Point of Sale | 3 Aug 2021 | $300M | $8.75B | Target Global |
| SpotOn Payment Processing & Point of Sale | 13 Sep 2021 | $300M | $3.15B | Andreessen Horowitz |
| CRED Payment Processing & Point of Sale | 18 Oct 2021 | $251M | $4.01B | Tiger Global and Alpha Wave Global |
| Payment Processing & Point of Sale | 21 Dec 2021 | $200M | $2.00B | Mizuho |
| Razorpay Payment Processing & Point of Sale | 19 Apr 2021 | $160M | $3.00B | Sequoia Capital and GIC |
| Bolt Payment Processing & Point of Sale | 14 Jan 2022 | $355M | $11.00B | BlackRock |
| Tipalti Payment Processing & Point of Sale | 6 Oct 2020 | $150M | $2.00B | Durable Capital Partners |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did BharatPe raise in its Series E round?
BharatPe raised $370M in its Series E round, announced in Aug 2021.
Who led BharatPe's Series E round?
Tiger Global led it, with Ribbit, Steadfast Capital, Amplo, Dragoneer Investment Group and Coatue and 2 more.
What was BharatPe's valuation at the Series E round?
$2.85B post-money ($2.48B pre-money).
How does it compare with other Series E rounds in Payment Processing & Point of Sale?
7 Series E rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $251M, and this round was 1.5 times the median.