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BharatPe, the Indian fintech unicorn, has achieved positive Ebitda in October, marking a significant milestone for the company. It reported an annualized revenue of Rs 1,500 crore, a 31% increase compared to the same period the previous year. This growth was attributed to substantial advancements in its lending and payments business. The company also managed to reduce its monthly burn rate, which averaged Rs 60 crore in FY23, to achieve positive Ebitda. BharatPe highlighted October as a particularly successful month with significant growth in loans facilitated on its platform.
The fintech major's annual run rate (ARR), a metric projecting upcoming revenue based on current earnings, has shown a positive trend. BharatPe recently reported its highest-ever gross revenue of $23.5 million (around Rs 200 crore) for August 2023. This surge was driven by revenue from its lending business and expansion into other services like Point of Sale devices. In October, the company recorded a monthly Total Payments Volume (TPV) of over Rs 14,000 crore across its payment products.
Looking ahead, BharatPe plans to focus on scaling its lending, POS, and soundbox businesses. It aims to launch new products tailored for its merchant partners while concentrating on the development of consumer and NBFC businesses. BharatPe has over 1.3 crore merchants across 450 cities, making it a significant player in UPI offline transactions, processing more than 370 million UPI transactions. The company's POS business handles payments worth over Rs 29,000 crore annually. The positive growth trajectory is expected to support its plans for a public listing.
