Bharatpe

BharatPe, operated by Resilient Innovations Private Limited, is an Indian fintech company headquartered in New Delhi that provides digital payment acceptance and financial services to small merchants, kirana and grocery stores. Its core offering is a unified, interoperable QR code that lets merchants accept payments from multiple UPI applications, alongside point-of-sale hardware and merchant credit facilities [4]. Product lines listed on the company site include BharatPe QR, the BharatPe One all-in-one payment device, BharatPe Swipe card machines, the BharatPe Speaker for real-time voice alerts on payments received, BharatPe Easy Loans, credit card and utility bill payment, personal loans and cards of up to ₹15 lakh, an investment platform (Invest BharatPe/Zillion), and a consumer-facing UPI TPAP app for scan-and-pay [0][1].

The company describes its mission as building a holistic fintech platform for offline merchants and small businesses, with technology positioned as the core of its product development [2]. It has progressively expanded from payment acceptance into lending: unsecured merchant lending in partnership with RBI-approved NBFCs from April 2019 [2], consumer fintech via postpe in October 2021 [2], and secured credit products announced in August 2024, including two-wheeler loans with OTO Capital and loans against mutual funds with Volt Money [4]. In May 2023 it acquired a majority/controlling stake in Mumbai-based NBFC Trillion Loans, which continues to operate as an independent entity [7]. An earlier attempt to obtain its own NBFC licence in 2019 was unsuccessful, after which it partnered with Liquiloans [7].

Founding story

BharatPe was founded in 2018 by Ashneer Grover and Shashvat Nakrani, with Bhavik Koladiya also listed as a founder, with the stated vision of making financial inclusion a reality for Indian merchants [4]. According to one secondary account, Nakrani, then a third-year student at IIT Delhi, observed in 2017 that small merchants avoided digital payments because of merchant discount rates charged by banks and wallet providers, while Grover, who had previously worked at Kotak Mahindra Bank, Grofers and American Express, saw that fintech products were being built for consumers rather than merchants; the two combined on the idea of a zero-MDR interoperable QR code accepting payments from all major UPI apps [6]. The same account states the first pilot ran in Delhi's Lajpat Nagar and Chandni Chowk markets in late 2018, after which the product was rolled out across Tier 1, 2 and 3 cities [6].

Business model

BharatPe operates a B2B and B2B2C model centred on acquiring offline merchants with free, interoperable QR-based payment acceptance and monetising the resulting relationship and transaction data through hardware (card machines, all-in-one devices, sound boxes) and credit products [0][1][5]. Merchant lending is facilitated through partnerships with RBI-approved NBFCs and, since 2023, through its majority-owned NBFC Trillion Loans [2][7]. Management has publicly framed credit access for merchant partners as key to the business model and to its path to profitability [7].

Revenue is generated from merchant-facing financial services rather than QR payment fees, which are offered at zero MDR: POS/card-machine and device businesses, and lending facilitation to merchants and consumers [0][2][6]. Wikipedia reports FY24 revenue of ₹1,700 crore (about US$180 million) and net income of ₹66 crore (about US$6.9 million) [4].

Traction

The company website reports more than ₹1,700 billion in payments TPV, over 17 million merchant partners, presence in more than 450 cities, and more than ₹14,600 crore of business loans facilitated [0][1]. Earlier figures from a company profile cite over 60 lakh merchants across 100 cities, 8 crore-plus monthly UPI transactions, over ₹1,200 crore disbursed to merchants and a POS business clocking over ₹900 crore per month [5]. A secondary account states BharatPe reached an all-time high of $20 billion in annualised TPV as of August 2022, up from $18.5 billion in June 2022, and a presence in over 400 cities [6]. Reported FY24 revenue was ₹1,700 crore with net income of ₹66 crore [4].

Latest developments

In March 2026 BharatPe appointed Himanshu Verma as Head of POS Business as it sharpened focus on expanding its offline payments footprint and merchant adoption [0][1]. In January 2026 it launched the 'Super Over' nationwide campaign with Rohit Sharma ahead of the ICC Men's T20 World Cup, followed by a March 2026 event with contest winners [0][1]. In August 2024 it extended merchant credit into secured products via OTO Capital and Volt Money [4], and in September 2024 it settled its legal dispute with co-founder Ashneer Grover [4].