BharatPe Unlisted Share Price

BharatPe Unlisted Share Price Description: BharatPe, founded in 2018, has rapidly emerged as one of India’s leading fintech companies focused on enabling digital payments and lending solutions for merchants across the country. Over the years, BharatPe has strengthened its position in the merchant payments ecosystem through its interoperable UPI QR code technology and diversified financial offerings including merchant credit. As of 2025, BharatPe’s unlisted shares attract considerable investor interest due to the company’s impressive growth and improving profitability.

This article provides a detailed analysis of BharatPe’s business, financials, share price, and investment outlook, modeled in the same structured format as the popular Vikram Solar unlisted share price article.

Company Business Overview

BharatPe operates with a mission to empower small and medium-sized merchants in India by providing easy acceptance of digital payments, loans, and other financial services. The company pioneered the interoperable UPI QR code that enabled merchants to receive payments from multiple UPI-enabled apps with zero MDR (Merchant Discount Rate), which played a transformative role in India’s digital payment landscape. BharatPe services span QR payments, card acceptance through BharatSwipe terminals, and merchant lending via its NBFC arm, Trillionloans, which offers collateral-free loans tailored to the needs of small businesses. BharatPe focuses heavily on the offline merchant segment and has grown its merchant base to over 50 lakh merchants across more than 400 cities in India.

BharatPe’s business model is centered on increasing merchant transaction volumes and offering credit products to improve merchant financial inclusion and loyalty. The company monetizes through merchant lending interest, transaction fees on card acceptance devices, and value-added financial services. BharatPe is backed by global investors including Tiger Global, Coatue Management, Sequoia Capital (now Peak XV Partners), Ribbit Capital, and Insight Partners.

BharatPe has raised approximately USD 850 million (~INR 7,537 crore) in total funding, backed by investors such as Peak XV Partners, Ribbit Capital, and Beenext. In FY25, the company achieved several key milestones: it secured a payment aggregator licence from the RBI in April, raised INR 125 crore in debt from Neo Group and Trifecta Capital, and Gujarat-based family offices acquired a 2.6% stake in the company through secondary transactions worth INR 179 crore.

Services of BharatPe

• UPI QR Code-Based Payment Acceptance: BharatPe enables merchants to accept payments from all major UPI apps (Google Pay, PhonePe, Paytm, BHIM, etc.) using a single interoperable QR code with zero merchant discount rate (MDR).
• BharatSwipe (PoS Terminals): Launched in 2020, BharatPe offers BharatSwipe point-of-sale machines to merchants for accepting payments via credit/debit cards, increasing payment versatility.
• Merchant Lending (Trillionloans NBFC): BharatPe’s NBFC arm provides collateral-free working capital loans, business loans, two-wheeler loans, and loans against mutual funds tailored for small merchants.
• BharatPe Business App: A comprehensive platform for merchants to track transactions, manage loans, access invoices, and monitor business growth efficiently.
• Digital Payment Aggregator Services: Since April 2025, BharatPe has RBI approval to operate as a licensed payment aggregator, offering integrated digital payments infrastructure.
• Financial Services: BharatPe also provides insurance products, credit cards, and loyalty programs to merchants, augmenting their financial inclusion and business ecosystem.
• Technology Services: BharatPe powers payment infrastructure for partner banks like Unity Small Finance Bank and supports third-party payment apps with its UPI switch technology.
• Investment Products: The company is expanding into consumer investment products like digital gold and fixed deposits distribution through its fintech platform.

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Product Portfolio of BharatPe

• Interoperable UPI QR Codes: Single QR codes that accept payments from all UPI apps without MDR charges for merchants.
• BharatSwipe PoS Machines: Secure and feature-rich POS devices enabling card payments including credit, debit, and Rupay cards.
• Merchant Credit Products:
  • Collateral-free short-term business loans.
  • Two-wheeler loans designed for merchants.
  • Loans against mutual funds.
• Digital Business Management Tools:
  • Transaction tracking dashboards on the merchant app.
  • Invoice generation and loan management features.
• Zillion Rewards Program: A loyalty program integrated with BharatPe UPI app offering Zillion Coins on transactions, redeemable across a large merchant network.
• Third-Party Payment Aggregator Solutions: Licensed UPI switch integration for fintech companies and banks to process payments efficiently.
• Consumer Financial Products: Bill payments, cobranded credit cards, and personal loan products as part of a fintech “super app” offering.

Key Highlights – FY2024–25

• Revenue increased to INR 1,667 crore, a ~17% rise from previous fiscal
• The company’s net loss in FY2025 reduced to INR 88 crore from INR 492 crore in the previous year—a significant 82% cut in losses.
• EBITDA margin turned positive for the first time, reaching a profit of INR 141 crore, while last year the EBITDA loss was INR 209 crore.
• BharatPe reported a profit of INR 6 crore for the first time in Adjusted profit before tax (excluding ESOP expenses).
• EBITDA turned positive indicating improved operational efficiency
• UPI QR Transactions: 26% growth year-on-year
• Trillionloans NBFC arm received ‘IND BBB+’ rating, enhancing creditworthiness
• Merchant base crossed 50 lakh, spanning over 400 cities
• Advertising costs reduced by 84%, while focusing on efficient growth
• Strengthened investor confidence through improved financial metrics

BharatPe Board of Directors

• Rajnish Kumar, Chairman
• BP Kanungo, Independent Director
• Kaushik Dutt, Independent Director
• Nalin Negi, Executive Director
• Shashvat Nakrani, Executive Director
• Harshjit Singh Sethi, Non-Executive Director
• John Bernard Weinstein, Non-Executive Director
• Amit Mukherjee, Non-Executive Director

BharatPe Share Price Details

Name	BharatPe Unlisted Share Price Details
Face Value	INR 1 per share
ISIN Code	INE0JEF07019
Lot Size	100 shares
Demat Status	NSDL, CDSL
Share Price of BharatPe	INR 4,07,870 per share
Market Cap	INR 46,905 crores
Total number of shares	11,50,000 shares
Website	www.bharatpe.com

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BharatPe Unlisted Share Price – Shareholding Pattern

Details of shareholder holding more than 5% of the total equity shares in the Group :

Shareholder	Holding %	Equity Shares
Tiger Global	20.5	2,35,750
Coatue Management	18.0	2,06,700
Peak XV Partners (Sequoia)	15.2	1,74,560
Ribbit Capital	10.8	1,24,080
Insight Partners	10.1	1,16,000
Promoter & Management	15.4	1,77,100
Others	10.0	1,15,000

BharatPe Unlisted Share Price – Financial Performance

Financial Metric	FY 2023	FY 2024	FY 2025
Revenue	1,070	1,426	1,667
Revenue Growth (%)	134.14	33.27	16.90
Expenses	–	1,953	1,876
Net Profit / (Loss)	(376)	(492)	(88)
Margin (%)	(34.14)	(34.50)	(5.28)
EBITDA Margin (%)	(23.4)	(19.71)	2.82
ROCE (%)	–	(18.7)	(3.8)
Employee Cost	–	337	360

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BharatPe Unlisted Share Price – Peer Comparison

Company	Revenue (INR Cr.)	Net Margin (%)	ROCE (%)	MCap (INR Cr.)
BharatPe	1,667	(5.28)	(3.8)	46,950
Paytm	6,900	(9.61)	(10.1)	79,830

BharatPe Share Price – Annual Reports

BharatPe Annual Report FY 2024 – 2025
BharatPe Annual Report FY 2023 – 2024
BharatPe Annual Report FY 2022 – 2023

BharatPe Unlisted Share Price FAQs