Fintech unicorn BharatPe has announced its latest initiative to offer secured loans to its merchant partners, expanding its financial services portfolio. In the initial phase, the company launched two key loan products: two-wheeler loans and loans against mutual funds (LAMF).
BharatPe has partnered with OTO Capital, a digital commerce and lending platform, to facilitate two-wheeler loans. Through this collaboration, merchants can now avail of two-wheeler loans of up to Rs 2.5 lakh with competitive interest rates and flexible repayment terms ranging from 12 to 48 months.
In addition, BharatPe has teamed up with Volt Money to offer loans against mutual funds. This new service allows merchants to access loans up to Rs 1 crore, providing them with a significant liquidity option backed by their mutual fund investments.
The respective partners will manage the loan disbursal and collections for both products, ensuring a seamless experience for the merchants. BharatPe, backed by Peak XV and Tiger Global, plans further to expand its product offerings in the coming months, introducing various financial solutions to cater to its growing merchant base.
In recent developments, BharatPe increased its stake in its non-banking financial company (NBFC) arm, Trillion Loans, to nearly 60%, investing around $8-9 million. The company also raised $10 million in debt through non-convertible debentures from Trifecta Venture and InnoVen Capital, as exclusively reported by Entrackr. These strategic moves underline BharatPe’s commitment to enhancing financial access for merchants across India.
