While the number of merchants jumped to 60 lakh in 2020-21 from 24 lakh in the previous year, transaction volume rose over four times to 10 crore a month or 120 crore annually from 2.7 crore a month in FY20
Financial technology firm BharatPe has seen its revenue and transaction volume jump manifold in the financial year 2020-21, as the pandemic has forced people and businesses adopt digital transactions and fund-starved small businesses seeking more credit avenues like this start-up.
The company gives small-ticket fully unsecured loans averaging at ₹75,000 to it merchant members. It disbursed ₹1,600 crore in 2020-21 to 1.8 lakh merchant customers, which was only ₹150 crore in 2019-20, BharatPe Group President Suhail Sameer told PTI on Thursday.
This helped the start-up net a seven-times growth in revenue to over ₹700 crore, up from around ₹110 crore in 2019-20, Sameer said.
While the number of merchants jumped to 60 lakh in 2020-21 from 24 lakh in the previous year, transaction volume rose over four times to 10 crore a month or 120 crore annually from 2.7 crore a month in FY20, he said.
The transaction value touched around ₹5,800 crore, he added.
"The financial year 2020-21 was a great year for us, as the pandemic turned out to be a game changer for the payments and financial services industry," Sameer said adding that this, along with the company's entry into the credit business, helped it grow manifold.
The lending business, which started right in the end of 2019, turned out to be the biggest game changer for the company, Sameer said.
He added that the loan book has grown more than 10 times to ₹1,600 crore in small-ticket loans during 2020-21, up from ₹150 crore in 2019-20.