Fintech firm Bharatpe on Tuesday said it has registered over two-fold growth in loan disbursals facilitated by it to over Rs 3,600 crore in the April-June period.
The company had facilitated loan disbursal of around Rs 1,700 crore through its NBFC partners in the January-March 2022 quarter.
Bharatpe said that it facilitated loan disbursal for over 1.2 lakh merchants during the quarter compared to 66,000 merchants that benefitted from the service in January-March quarter.
"Post a successful FY'22 that we closed with a 3 times growth in merchant loans, 2.5 fold growth in payments and a 4 times jump in revenue, BharatPe has recordedits’ best ever quarter in first quarter of FY'23. We have closed the last quarter with a 112 per cent growth in total loans facilitated," Bharatpe CEO Suhail Sameer said in a statement.
BharatPe has sachetized credit in the form of small-ticket, short-term, and easy-to-repay loans up to Rs 10 lakh, the statement said.
"We are on an incredible growth journey, driven by huge shift in behaviour towards digital payment modes, rise of UPI and the increased acceptance of new-age fintech products," Sameer said.