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BharatPe in talks to raise $350mn

July 29, 2021

BharatPe in talks to raise $350mn

BharatPe is likely to become India’s next unicorn with New York-based Tiger Global Management LLC set to lead a possible investment of about $350 million in the fintech startup at a valuation of more than $2 billion, two individuals aware of the matter said.

Tiger Global is expected to invest between $200 million and $250 million in the new round of financing in the startup, one of the two individuals cited above said. Existing investors Coatue Management and Ribbit Capital will likewise participate in the round, alongside others like Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital, the individual said.

BharatPe had in February raised around $108 million in Series D essential and optional equity funding led by existing investors New York-based hedge fund Coatue Management at a valuation of $900 million.

BharatPe is in advanced talks with the investors for the latest fundraise, which track its plans around the takeover of distressed Punjab and Maharashtra Cooperative.

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