CFO and interim CEO Nalin Negi of BharatPe have said that, BharatPe has turned profitable five years after it was launched in 2018.
According to the sources, BharatPe has turned positive in October and recorded annualized revenue of Rs 1,500 crore with a significant growth in its lending and payments business.
The fintech giant said, “The Company has significantly cut down its EBITDA burn—which was averaging at Rs. 60 Cr per month in FY23—to attain EBITDA positivity. This significant milestone in conjunction with strong growth is a testament to the efforts of the team, enabled by strategic guidance from the Board. The company will continue taking strides toward being a market leading financial services platform for the 50 million small businesses across India.”
