Fintech unicorn BharatPe will reportedly launch a new lending division named BharatPe Money.
According to reports, The move involves separating its lending service provider (LSP) business from the main entity, creating a wholly-owned subsidiary dedicated to lending services.
The leadership of BharatPe Money will be under the guidance of Kohinoor Biswas and Rijish Raghavan. Biswas, who joined BharatPe in May to head its consumer lending and Postpe operations, will reportedly serve as a director alongside Raghavan.
Meanwhile, Nalin Negi, the interim CEO of BharatPe and a director of the new subsidiary, is expected to exit from Resilient Digi Services, the group's digital lending partner.
BharatPe Money reportedly will offer tailor-made loan solutions for MSMEs and consumers, as well as additional services like credit card payments and utility bill payments.
The report comes after BharatPe reported significant financial growth, with the company turning EBITDA positive in October 2023 and reducing its EBITDA burn, which had averaged Rs 60 crore per month in FY23.
Read the story here
{{ primary_category.name }}