Exclusive: BharatPe set to raise $80-100 Mn pre-IPO round led by Coatue

BharatPe is in advanced talks to raise $80-$100 million in a pre-IPO round led by Coatue Management, according to two people aware of the matter. This equity funding marks the first such raise in four years for the Delhi-based fintech unicorn.

“The round will also see participation from some new and existing investors. This is aimed at strengthening the company’s financial position and setting the stage for an eventual public listing,” said one of the sources, requesting anonymity as the talks are private.

As per sources, the investment is being spearheaded by Coatue’s new partner Amit Mukherjee, who has been actively working with BharatPe’s management and board on IPO preparations.

Last week, BharatPe’s CEO Nalin Negi also said that the firm will go for a pre-IPO round but ruled out a listing this fiscal (FY26). According to another source, the company wants to ensure consistent profitability before filing draft papers.

BharatPe declined to comment on the story while queries sent to Coatue did not elicit an immediate response.

BharatPe raised its last equity round in August 2021 when it also entered the unicorn club. It has raised over $650 million in equity and debt from the likes of Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital and others.

BharatPe recently claimed that it turned profitable in FY25 with a profit before tax of Rs 6 crore (excluding ESOP costs) on revenues of Rs 1,800 crore. This marks a turnaround for the firm which had been loss-making for several years.

The company already achieved a break-even at the EBITDA level (adjusting for employee stock options) during the first nine months of FY25 while its net losses declined to Rs 148.8 crore in the same period.

In April, BharatPe’s subsidiary Resilient secured final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This makes BharatPe one of the few Indian fintech companies to hold an NBFC license (through Trillion Loans), a stake in a small finance bank (Unity SFB), and now a payment aggregator license.