Total amount raised
$4.7 Million
Latest funding date
1/1/2024
Location
BharatX has successfully raised funding over four rounds, with the latest being a Venture - Series Unknown round. The company is backed by 19 investors, including Mars Shot Ventures and Ankur Aggarwal.
Keep reading to explore the intricacies of BharatX's fundraising journey and the investors backing this innovative platform.
What Is BharatX?
BharatX is a FinTech company based in Bengaluru, Karnataka, India, specializing in Embedded Consumer Credit and Buy Now, Pay Later (BNPL) solutions. The company enables apps and websites to offer credit as a feature, enhancing consumer purchasing power and merchant sales.
Founded by a team whose names are not publicly disclosed, BharatX operates with a small team of 1-10 employees. The company has been acquired by super.money and has raised funding through four rounds, with the latest being a Venture - Series Unknown round.
BharatX offers various BNPL services, including Pay in 3, Pay in X, and Postpaid options, allowing customers to split their payments into multiple installments. The company emphasizes easy integration with major payment gateways and Shopify, offers T+1 settlements, and takes on the credit risk for their clients.
How Much Funding Has BharatX Raised?
- Pre-Seed Round
- Amount Raised: INR 18,100,000
- Date: February 2021
- Lead Investors: Java Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial product offerings.
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand initial market reach.
- Seed Round
- Amount Raised: USD 4,500,000
- Date: May 2022
- Lead Investors: Y Combinator, 8i Ventures, Multiply Ventures, Soma Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build and expand the team, enhance product development, and support market expansion.
- Venture - Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up operations and introduce new product verticals.
Total Amount Raised: USD 4,500,000
Current Valuation: Not publicly disclosed
Key Investors
- Y Combinator
- Details: Y Combinator is a renowned startup accelerator that provides seed funding, advice, and connections to early-stage startups. It has been instrumental in the growth of numerous successful companies.
- Investment Focus Areas: Early-stage startups across various sectors.
- Notable Investments: Dropbox, Airbnb, Stripe, Reddit.
- 8i Ventures
- Details: 8i Ventures is a venture capital firm focused on investing in early-stage startups with high growth potential. The firm is known for its strategic investments in the fintech and consumer internet sectors.
- Investment Focus Areas: Fintech, consumer internet.
- Notable Investments: BharatX.
- Multiply Ventures
- Details: Multiply Ventures is a venture capital firm that invests in early-stage consumer brands and technology companies. The firm aims to support innovative startups that have the potential to disrupt their respective industries.
- Investment Focus Areas: Consumer brands, technology companies.
- Notable Investments: BharatX.
- Soma Capital
- Details: Soma Capital is a venture capital firm that invests in early-stage technology companies. The firm focuses on supporting startups that leverage technology to create innovative solutions.
- Investment Focus Areas: Technology companies.
- Notable Investments: BharatX.
- Java Capital
- Details: Java Capital is an existing investor in BharatX, known for investing in early-stage startups. The firm focuses on providing strategic support to help startups scale and succeed.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: BharatX.
What's Next for BharatX?
BharatX stands at the cusp of significant growth opportunities. With a $1 trillion credit gap in the Indian middle class and nearly 480 million Indians lacking access to credit, the potential for expansion is immense. The company plans to introduce new product verticals such as UPI Credit, Pay in 3, and 15/30 day cycle products like Credit Cards, leveraging partnerships with over 50 brands to reach millions of users.
Future fundraising opportunities seem promising given BharatX's rapid growth and market potential. The company may attract further investment to support its scaling efforts and product development. However, challenges such as competition from other fintech companies, regulatory hurdles, and maintaining high credit approval rates while scaling could pose significant obstacles.
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