Oct 29, 2024

BharatPe Launches Invest BharatPe Platform for Retail Investors Fintech company BharatPe, which specialises in payments and lending, announced the debut of its new investment platform, Invest BharatPe, on 28 October 2024. The first product available on the app is digital gold. In collaboration with Safegold, the Delhi-based fintech introduced digital gold, allowing users to buy and sell gold online. 12% Club, a fintech loan platform, will also be included in the app. Months after the Reserve Bank of India (RBI) tightened regulations pertaining to peer-to-peer (P2P) lending, the 12% Club paused customer onboarding. "The ongoing festive season is the ideal moment to launch Invest BharatPe and provide digital gold to our customers," said Nalin Negi, CEO of BharatPe, during the launch ceremony. "We think this is the best time for people to take control of their financial lives since it represents fresh starts. Our goal at BharatPe is to enable people to realise their financial aspirations. The goal of this software is to make investing easy, safe, and available to everyone, regardless of financial literacy or budget. The investing platform aligns with our goal of promoting financial inclusion for the nation's underprivileged. The holiday season is the ideal time to launch this new product because so many people plan and invest in gold during this time," he opined. "In the upcoming weeks, we'll be expanding our selection of investment options on the Invest BharatPe platform. Our goal is to provide customers with a variety of investing options based on their personal interests. As we work to become a one-stop shop for customers wishing to safeguard their financial future, we are dedicated to providing a range of reliable and strictly regulated financial products on the Invest BharatPe platform," he continued. BharatPe is Expanding its Portfolio In collaboration with lenders including OTO Capital and Volt Money, the company introduced secured credit solutions for its merchants in August, including loans against mutual funds (LAMF) and two-wheeler loans. In 2022, the business partnered with non-banking financial companies (NBFCs) to join the gold loan market for its merchants. In exchange for a gold pledge, the firm had stated that it would provide loans up to INR 20 lakh. BharatPe Financial Report Card In the fiscal year 2024 (FY24), BharatPe 's consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) decreased from INR 826 crore in FY23 to INR 209 crore. The business also stated that, year over year (Y-o-Y), its cash burn was down by 85%. Compared to the prior year, the average merchant lending portfolio from loans made via BharatPe's platform increased by 40%.