The Delhi-based company BharatPe saw its revenue from operations shoot up around 20X to Rs 119.1 crore during FY21 as collections from its business loans segment grew significantly, its annual financial statements with the Registrar of Companies (RoC) show.
The Tiger Global-backed company is primarily engaged in the business of providing aggregator services to various merchants and business users, offering them a unified QR code for acceptance of push payments through third-party UPI applications.
BharatPe majorly acts as a facilitator for lending partners (financial institutions) to provide small-ticket loans for the daily working capital needs of vendors on its platform.
It collects commission income and processing fees on loans serviced through its lending partners. It does not charge transaction fees on its QR codes and point of sale card machines.