India based digital payments startup raised $75m in Series C funding led by Coatue and Ribbit Capital.
BharatPe, he said, has disbursed about $14 million “short-term” loans to over 20,000 merchants in the last seven months. New merchants can secure about $500 for a period of three months from BharatPe. As merchants spend more time on BharatPe, the firm increases the amount to about $2,000. The startup has amassed over 3 million merchants in 30 Indian cities. It aims to more than double that number by March 2021.