Exclusive: BharatPe increases its stake in Trillion Loans to 60%

Fintech unicorn BharatPe has invested around $8-9 million in its non banking financial (NBFC) arm Trillion Loans and increased its stake in the Mumbai-based firm to nearly 60%, two sources told Entrackr.

In May 2023, BharatPe acquired a majority 51% stake in Trillion Loans. The Tiger Global-backed firm also appointed Ravindra Pandey, Nalin Negi and Sabyasachi Senapati to the board of the NBFC firm.

The investment appears to be a move for instilling confidence among its external stakeholders, including the lending community and equity holders.

“Trillion Loans is now valued at $100 million. BharatPe is planning to fully acquire 100% stake in Trillion NBFC by next 24 months,” said a source who requested not to be named. The person added that BharatPe is also pushing very hard to increase its stake in Unity Small Finance Bank to get more control.

Currently, BharatPe owns 49% in Unity SFB whereas Centrum Group owns the remaining 51% stake.

Earlier this year, BharatPe raised a larger debt round while Trillion Loans closed a separate debt from Credit Saison. Entrackr exclusively reported the development then.

“The investment will enable Trillion Loans to pursue new opportunities, leverage its capital, and operate within comfortable regulatory limits,” said another source who also wished not to be named.

BharatPe declined to comment on the story.

BharatPe raised its last equity round in August 2021. As per media reports, it was in talks to raise a larger equity round. While the equity funding did not materialize, it has raised multiple debts in the past three years. The company is also likely to be profitable on a consolidated basis in the ongoing fiscal year (FY25). BharatPe’s operating revenue reportedly increased by 16% to Rs 1,370 crore in FY24 while its losses shrank 70% to Rs 270 crore in FY24.