Fintech unicorn BharatPe enters investment market with new app ‘Invest BharatPe’

Delhi-based fintech unicorn BharatPe has expanded into investment offerings with the launch of a new app, Invest BharatPe.

Available on the Google Play Store and App Store, the new platform aims to simplify investing for consumers, starting with an accessible digital gold option.

The app marks BharatPe's shift into the investment space, enabling users to access affordable financial products and invest conveniently.

Digital Gold as first investment product

The first product available on the Invest BharatPe app is digital gold, introduced in partnership with Safegold, a Mumbai-based firm.

Through this feature, users can invest in pure, 24-karat gold with a minimum entry point of Rs 100.

BharatPe has also announced a festive promotion, offering 1.1% additional free gold on each purchase, enhancing the appeal for new users during this high-investment period.

Leadership comments

BharatPe CEO Nalin Negi emphasized that the festive season provides an ideal opportunity to launch Invest BharatPe, as this period often represents a time for financial planning and new investments in many households.

"The festive season is the perfect time to launch Invest BharatPe and introduce Digital Gold to our consumers. This period symbolizes new beginnings, and we believe it’s the ideal moment for individuals to take charge of their financial journeys," said Negi.

He added that BharatPe is committed to supporting customers in achieving their financial goals by offering a user-friendly, secure platform for investment.

Future plans for expanding investment offerings

Following the launch of digital gold, BharatPe has plans to expand the app’s offerings with other investment options.

According to media reports, the company is in discussions with non-banking financial companies (NBFCs) to introduce fixed deposit products on the platform. 

Additionally, BharatPe aims to add other popular investment products, potentially including mutual funds and small-ticket investment tools, as it seeks to build a comprehensive investment suite tailored to varying consumer needs.

Negi said, "We will be adding more investment products on our Invest BharatPe platform in the coming weeks. Our objective is to give consumers the option to choose from a range of investment options in line with their preferences. We are committed to providing a portfolio of trusted and well-regulated financial products on the Invest BharatPe platform as we strive to become a one-stop solution for consumers looking to secure their financial future."

BharatPe's shift towards consumer financial services

The launch of Invest BharatPe reflects BharatPe’s ongoing strategy to diversify from its core digital payment services into consumer financial services.

This shift follows recent changes, including the merging of BharatPe’s PostPe app for Buy Now, Pay Later (BNPL) services into its primary platform.

By creating a unified application with investment options, BharatPe aims to attract and serve a wider audience in the financial technology market, positioning itself as a more versatile fintech player.

BharatPe's financial performance

Earlier this month, BharatPe reported a 39% increase in operating revenue for the fiscal year 2024 (FY24), reaching Rs 1,426 crore, up from Rs 1,029 crore in FY23.

BharatPe also made significant strides in narrowing its losses. The company’s consolidated loss before taxes dropped by 50% to Rs 474 crore in FY24, compared to Rs 941 crore in the previous fiscal year.