TechThisWeek: BharatPe CEO Suhail Sameer on the co’s strategy to enter consumer credit, merchant focused business bets
Delhi-based Resilient Innovations, which owns and operates BharatPe, joined the unicorn club with a valuation of $2.85 billion this week with a new round of funding. The $370 million capital raise was led by Tiger Global with the participation of Dragoneer Investment Group and Steadfast Capital.
With the round, the company is entering consumer finance and is also doubling down on its merchant focused business. The round has also seen the elevation of group president Suhail Sameer to CEO, while cofounder Ashneer Grover has moved to the role of managing director.
TechCircle spoke to Suhail Sameer on the strategy ahead for the company and new hires in engineering and other teams.
“We can only extend credit to 10-15% of the merchants on the platform as most of the merchants have low transaction data on the platform. We are trying to increase the percentage,” Sameer told TechCircle.
Catch up with this and other stories this week on TechThisWeek.