Tuesday, August 16, 2022

ਵਾਹਿਗੁਰੂ

spot_img











BharatPe back on track after Ashneer controversy, records 112% growth

New Delhi, July 6, 2022- Leaving the Ashneer Grover controversy behind, fintech platform BharatPe has closed one of the highest growth quarters in its history, facilitating over Rs 3,600 crore in loans in the first quarter (April-June period) of FY23.

This is a growth of 112 per cent over the last quarter. BharatPe said it also reached an all-time high of $18.5 billion in annualised total payment value (TPV) — a growth of 50 per cent over the last quarter.

“Post a successful FY22 that we closed with a 3 times growth in merchant loans, 2.5 times growth in payments and a 4 times jump in revenue, BharatPe has recorded its’ best ever quarter in Q1, FY23,” said Suhail Sameer, CEO, BharatPe.

“We are on an incredible growth journey, driven by a huge shift in behaviour towards digital payment modes, rise of UPI and the increased acceptance of new-age fintech products,” he added.

The company facilitated disbursals to over 1.2 lakh merchants in Q1, FY23, up from 66,000 merchants in the last quarter of FY22.

Additionally, BharatPe’s other product offerings, including the card acceptance POS businesses (BharatSwipe) and its investment platform for merchants recorded consistent growth (over 30 per cent) compared to the last quarter.

“We are on track to achieve our target of $2 billion in loans facilitated (through our NBFC/bank partners) across both consumer and merchant business by the end of FY23 as well as scaling TPV to $30 billion by March 2023,” said Sameer.

The company saw its biggest-ever controversy starting earlier this year when its Co-founder and CEO Ashneer and his wife Madhuri Jain Grover siphoned off funds worth crores and were later sacked by the company.  (Agency)

Subscribe to YesPunjab Telegram Channel & receive Important News Updates

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected

28,005FansLike
113,951FollowersFollow

ENTERTAINMENT

National

GLOBAL

OPINION

Gilli-Danda: Comeback of 75 indigenous sports – by Narvijay Yadav

Under the ‘Azadi Ka Amrit Mahotsav’ the central government has stepped up the plan to introduce 75 indigenous sports in all schools. The popular...

Is the world sliding into a Chernobyl-plus nuclear disaster in Ukraine? – by Sergei Strokan

New Delhi, Aug 13, 2022- Tensions around the Zaporozhye nuclear power plant in Ukraine reached a climax by the weekend, after three more missiles...

When careers are sacrificed for advertisement billboards and statistics – by Vinit Goenka

Back in 1859, Macaulay's education system came into effect intending to colonise education and create a class of anglicised Indians. Post-Independence, India tried to...

SPORTS

Health & Fitness

Rise in pregnancy-related complications during Covid pandemic

New York, Aug 13, 2022- Covid-19 has caused unprecedented stressors as a new study showed a rise in pregnancy-related complications during the pandemic. The study, published in the journal JAMA Network Open, assessed how pregnancy-related complications and obstetric outcomes changed during Covid compared to pre-pandemic. Looking at the relative changes in the mode of delivery, rates of premature births and mortality...

Gadgets & Tech

error: Content is protected !!