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BharatPe gets funding at $2.85 bn valuation, appoints Suhail Sameer as CEO
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Last Updated: Aug 04, 2021, 11:40 AM IST
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Synopsis
The fundraising, which pushes BharatPe into the unicorn club, gives the fintech startup capital as it takes over distressed lender PMC Bank with Centrum Financial Services to create a small finance bank.
ETtech
Suhail Sameer, new chief executive officer of BharatPe.
Mumbai | Bengaluru: Online payments startup BharatPe said it has raised $350 million in new funding, which has catapulted its post-money valuation to $2.85 billion, as investors line up to back domestic internet businesses.
The new financing will help the New Delhi-based company enter the fast growing club of Indian unicorns this year, making it the 19th entrant into the group. Unicorns are privately held companies that are valued at $1 billion or more.