Why BharatPe is Focused on Helping Small Businesses in India
BharatPe is a startup focusing on making digital payments easier for small businesses in India. Founded in 2018, BharatPe has quickly become the leading digital payment solutions provider to numerous small businesses throughout India. The company offers businesses the convenience and security of being able to accept payments digitally with their simple, cost-effective and easy-to-use solutions.
BharatPe’s mission is to provide financial inclusion amid the rising popularity of digital payments and ensure that merchants have the necessary tools they need to succeed. In addition, BharatPe is committed to ensuring small businesses across India can be easily linked within a single digital payment ecosystem so that all can benefit from it.
Since its launch, BharatPe has become a leader in providing digital payment solutions for small businesses by leveraging its core competencies in product innovation, deep technical knowledge and an extensive network for merchant onboarding as well as distribution of services. By integrating with various existing banking channels, mobile wallets, QR codes and UPI, BharatPe allows merchants to accept any kind of payment mode easily – helping them grow their business faster.
In addition, the platform provides many features such as integrated inventory management, analytics access and voice order tracking – giving merchants more flexibility when managing their transactions. By focusing on providing unmatched support, customized products and real-time insights into daily transactions – BharatPe is on a mission to make payments simpler for small businesses in India.
BharatPe is a payment solutions company focused on helping small businesses in India. Founded in 2018, the company has seen rapid growth, recently reaching a valuation of $900 million after its $108 million fundraise. This company has its sights set on revolutionizing the payments industry in India and helping small businesses succeed.
Let’s take a closer look at their mission.
Empowering small businesses
At BharatPe, we believe small businesses are the backbone of the Indian economy. These businesses are the lifeblood of many communities and support millions of livelihoods across the country. We are on a mission to create solutions that empower India’s small and medium-sized business sector to be profitable and competitive in a global market while creating meaningful trends for success.
We understand how difficult it can be for these small business owners regarding digitalization. With a lack of resources and limited access to technology, they often find themselves lagging behind in the fast-paced digital era. BharatPe’s network seeks to bridge this divide by providing an affordable platform where businesses can leverage technology to modernize their services, accept all forms of payments from customers securely,, increase their customer base and access powerful finance options in order to help them grow their businesses.
By providing easy-to-use tools such as invoicing, loyalty programs and offers for customer engagement; BharatPe gives these entrepreneurs access to valuable insights so they can make real time data driven decisions about their operations – without having any prior technical knowledge! Furthermore, our network connects with leading financial institutions such as banks and NBFCs (non-banking financial companies) which helps SMEs get quick loans & other facilities thereby allowing them greater flexibility in operating their businesses.
BharatPe is focused on helping these SMEs adopt digital solutions and providing an inclusive ecosystem where customer loyalty is rewarded through offering discounts & cash back so that more people become a part of this digitally connected world. We aim to help India’s small businesses thrive and succeed while encouraging equitable economic growth – supporting firmly rooted entrepreneurs making lasting impacts within local communities nationwide!
Offering a digital payment platform
Access to digital payment tools has historically been a challenge for small businesses in India. This has sometimes put them at an economic disadvantage, as they have difficulty accepting payments from customers who are more comfortable using credit cards and other digital methods than cash. To make up for the service gap, BharatPe was formed to give small businesses access to the same digital payment methods used by large companies across India.
At BharatPe, our goal is to provide an easy-to-use platform that enables small businesses to accept payments quickly and securely from their customers. By offering features such as UPI merchant QR codes, merchant web links, bank account collection links and additional consumer payment options in a single package, we can streamline the process of collecting payments for millions of small businesses in India on a daily basis. Additionally, our competitive mPOS (mobile POS) solution provides merchants with a low-cost alternative to traditional point-of-sale terminals.
In order to keep our services affordable for merchants of all sizes, we offer flat transaction fees that are among the most competitive in the industry — which helps them increase their revenue by making it easier for customers to pay with digital wallets like Airtel Payments Bank and Google Pay™ or through debit cards or net banking accounts with major banks like HDFC Bank and Axis Bank. Furthermore, transactions made using BharatPe are always processed securely as we utilize bank grade encryption standards such as 3D secure (which also help protect merchants against fraud).
At BharatPe, our focus remains on supporting small business owners all over India by providing cutting-edge digital payment solutions that can be fully integrated into their existing ecommerce setup at no additional cost — helping minimize transaction costs while maximizing convenience for their customers.
Leveraging UPI technology
BharatPe leverages the power of UPI (Unified Payments Interface) technology to make payments simpler and easier for both customers and merchants. UPI is a secure, instant and convenient way for customers to pay digital invoices from their smartphones, linked to their bank accounts.
For merchants, BharatPe helps in quickly receiving payments apart from generating invoices, digital receipts and providing analytics on sales data. BharatPe also helps reduce common hassles faced by small businesses such as cash collection, reconciliation of payments etc. Moreover, through its partnerships with small banks, BharatPe provides convenient access to credit facilities for small business owners at a much lower interest rate than traditional methods of borrowing money.
This simplifies the process of doing business significantly and results in more efficient operations with higher customer satisfaction due to faster turnaround times while collecting payments. Ultimately this is all designed to benefit both customers and merchants alike.
BharatPe’s Impact on Small Businesses
BharatPe, India’s leading fintech platform for small businesses, has recently completed a new fundraise valuing the business at $900 million. Through this injection of capital, BharatPe is well-positioned to further help small businesses in India by providing the tools and services needed to grow.
In this article, we will explore how BharatPe is helping small businesses in India.
Increasing access to digital payments
In order to support the growth of small businesses in India, BharatPe is focused on increasing access to digital payments. From UPI payments to users’ cards and wallets, BharatPe allows merchants to securely process digital payments. By providing simple and secure digital payment solutions, BharatPe is helping small business owners across India expand their customer base and reduce their costs associated with processing payments.
BharatPe aims to give merchants an easier way to accept and process digital payments. This is done by offering UPI payments (without any additional costs) directly connected to major Indian banks. This helps guarantee customers a seamless payment experience while ensuring settlement security for retailers. Additionally, BharatPe also supports card transactions so that customers can make secure purchases using their bank cards or various other wallets offered by the platform.
By providing these simple yet effective solutions for digital payments, BharatPe are expanding access for small businesses in India who might not be able to afford expensive merchant resources or currency exchange rates at banks or other payment processing centers. Through this initiative, they can give merchants safe connections backed by larger banks, flexible integration options and industry-leading customer service–all resulting in enhanced sales opportunities and faster response times for small business owners in India.
Increasing customer engagement
BharatPe is focused on helping small businesses in India succeed by creating a bridge between end-customers and merchants. The payment solutions it provides help increase customer engagement and loyalty, while facilitating tax compliance — two key needs of small businesses. By creating convenient payment solutions, BharatPe also aims to reduce transaction costs, eliminate manual intervention, optimize cash flow management,and expand customer reach.
The success of small businesses is largely determined by the number of customers they can reach and the loyalty they can command. To this end, BharatPe has developed an efficient QR code system that allows customers to quickly make payments without leaving the store or needing a particular payment instrument. In addition, the QR code simplifies the experience for users and incorporates an integrated rewards system for merchant users. This encourages customers to make repeat visits and helps establish customer loyalty — which every small business needs in order to succeed in today’s competitive world.
Furthermore, BharatPe also offers easy features like payment reminders via text message and email that help customers pay bills on time. This helps reduce late payments—a major hindrance for small businesses—and also generates valuable customer insights along the way. All these elements are designed to increase customer engagement and boost sales potential — making BharatPe an effective tool for laid down Indian entrepreneurs in need of a trustworthy partner.
Enhancing customer experience
BharatPe understands that small businesses need to enhance their customer experience in order to stand out from the competition. This is why BharatPe has a suite of innovative products and services designed specifically for small business owners.
BharatPe’s tie-ups with major payment networks such as Visa, Mastercard, RuPay and more allow customers to use their digital wallets at trusted merchants. This enables customers to pay instantly with the touch of a button, saving them time and money on traditional banking processes. Additionally, BharatPe also facilitates returns, refunds and dispute handling via its mobile app so that customers are never left in the dark with respect to payments or returns due.
Also, BharatPe leverages its advanced data analytics capabilities to provide business insights to merchants. These insights improve understanding of customer behavior and purchasing patterns throughout their retail stores. This allows them to optimize their business operations such as inventory management and staff scheduling for improved efficiency, ultimately leading to increased revenues for small businesses through improved customer service experience.
India’s BharatPe valued at $900 million in new $108 million fundraise
BharatPe recently announced a new fundraise of $108 million, valuing the company at $900 million. This news signals growing investor confidence in the Indian payments platform.
But why is BharatPe focused on helping small businesses in India? Let’s take a closer look.
Valuation of $900 million
The successful monetary rise of the Indian startup ecosystem has been demonstrated by numerous new emerging start-ups in the recent years, with the latest being BharatPe. With its Series D round of fundraising that comfortably crossed $133 million in funding, one of India’s most sought-after fintech solutions provider was able to triple their pre-money valuation, bringing it to a resultant figure of $900 million.
BharatPe is determined to become an industry leader in the digital payments space and has set out to strategically help small and informal businesses empower their companies with technology. With industry leading investors such as Ribbit Capital taking part in this venture, there is no doubt now that BharatPe is right at the head of the table seeking next level digital solutions for small businesses within India.
Having created a massive network of retail partners that comprises all sorts of basic transaction purposes such as buying food at takeaway stores or paying taxi fares, BharatPe is now seeking avenues outside its traditional payments business—focusing on providing working capital solutions and financing services for MSMEs. And even then, their focus sectors are not limited within those boundaries; reports showcase how perhaps another $100 million will be allocated for growth investments like acquisitions, establishing new products & services lines, providing additional funding for recruitment processes etc too – further solidifying its position as a fintech giant from India gaining market traction globally.
$108 million fundraise
BharatPe, a leading fintech platform for small merchants in India, recently raised a new round of $108 million fundraise to help accelerate its mission to enable small businesses accept digital payments, get quick access to capital, and grow their businesses. Coatue Management led the new investment with participation from existing investors like Sequoia Capital, Insight Partners and Beenext.
The total capital that BharatPe has now raised is approximately $198 million and it will be widely used to invest in technology innovation such as artificial intelligence (AI) and machine learning (ML), expand its merchant network into more Indian states, launch new tools for the more than 10 million merchants on India’s largest UPI network and upgrade the user experience on its platform. Additionally BharatPe plans to use the funds for expanding its product suite across financing solutions like Working Capital, Bill Discounting/factoring etc., enabling merchants to easily manage their financial needs.
This fundraising is another encouraging sign that investors are recognizing the potential of helping small business owners in India grow their businesses with digital solutions. The funds will help BharatPe better serve its customers through innovative products such as quicker UPI registrations, real-time processing of returns/transactions using AI & ML technology, and seamless access to accounts receivables financing products. In addition, this round will strengthen BharatPe’s balance sheet as it works towards achieving profitability over the next two years while enabling entrepreneurs across India realize their dreams.
In conclusion, BharatPe has been a strong proponent of empowering small businesses in India and has created numerous innovative solutions tailored to their unique needs. By relying on technology and the power of data, it offers the ability to seamlessly manage payments, access productive financial services, introduce efficiencies and create a marketplace for exchanging resources.
BharatPe will continue to provide support that helps small enterprises grow because it is not just a company but a philosophy that works towards improving India’s economic situation. Furthermore, through its vision of ensuring business at every corner of India can access digital payments and financial liquidity, BharatPe could become one of the major disruptors in India’s financial industry.
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