Exclusive: BharatPe marks first secondary deal since 2021 at $2.85 Bn valuation

Tiger Global-backed fintech unicorn BharatPe carried out its first secondary transaction since 2021 through wealthtech platform Wylth, according to two sources aware of the details.

“As part of the deal, Gujarat-based family offices acquired 2.6% from the 27% common equity pool at the last private valuation,” said one of the sources, requesting anonymity as the details are private.

According to the startup data intelligence platform TheKredible, BharatPe was valued at $2.85 billion when it raised a $370 million Series E round.

The size of the secondary transaction couldn’t be ascertained. Entrackr has reached out to BharatPe and Wylth for comments.

This marks BharatPe’s first liquidity event following its prolonged governance turmoil which involved Ashneer Grover, Bhavik Koladiya, Sarswat Nakrani and Madhuri Jain Grover.

Now led by CEO Nalin Negi, BharatPe is focusing on strengthening governance and preparing for an IPO. The firm recently expanded its leadership team with the appointment of Rajesh C as Head of Finance and Himanshu Nazkani as Head of Investments.

Meanwhile, BharatPe is also in talks to raise a pre IPO round to the tune of $80-100 million. To date, it has raised over $650 million in equity and debt from investors including Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital and others.

As per media reports, BharatPe’s revenue jumped from Rs 180 crore in FY21 to Rs 1,734 crore in FY25. The company turned profitable after recording annual losses of more than Rs 1,800 crore four years ago.