BharatPe’s CEO, Suhail Sameer, said the company has left
behind it the controversy around its co-founder Ashneer Grover and is on track
to breakeven and list on stock exchanges in the next 18-24 months.
During an interview with PTI, he said while the board
will decide what to do with money allegedly defrauded by Grover, his priority
is keeping the firm’s employees focused and team members stable.
“Second focus is to keep firing on the business
front. From a long term point of view, that’s all that will matter for me, my
teams. I am just doubling down on these things,” he said.
Business in the January-March 2022 quarter is up 20% on
every metric, including transactions, TPC, loans facilitated and revenue
despite January being hit by Covid and everything was slowing a bit. Delhi was
shut and many cities had weekend curfews, he told PTI.
BharatPe, which enables shop owners to make digital
payments via QR codes, is now available in 225 cities (more than two times the
growth from the previous fiscal year) and has over 8 million merchants
registered (up from 5 million in the FY21 that ended on March 31, 2021).
Transaction Value (TPV) has grown 2.5 times year-on-year
to USD 16 billion in fiscal 2021-22. Point of Sale (POS) business is also
double from the previous year with more than 1.25 lakh machines deployed, with
transactions worth USD 4 billion on it as of March, said Suhail.
The number of merchants who availed of loans has
increased to 3 lakh from 1.6 lakh a year ago.
“How many loans facilitated – exactly 3x. We
facilitated USD 650 million of loans last year (FY22),” he said.
PostPe, the buy-now-pay-later product the company
launched in October 2021, is doing a million transactions a month and USD 50
million a month TPV.
From the company’s point of view, revenue has increased
nearly four times year on year and will end the year at a $110 million annual
run rate compared to $31-32 million last year.
BharatPe is aiming at an 85% jump in TVP to $30 billion
in the current fiscal year, scaling up loans facilitated to $2 billion. Revenue
in the current financial year is seen growing to $300 million and the merchant
base is estimated to increase to 12 million.
“Currently, we facilitate loans worth around ₹ 800
crore a month. Want to take that to ₹ 2,050 crore a month by March 2023,”
BharatPe aims to expand its presence to 300 cities by the
end of FY23 and take its gold loan offering to 20 cities by 2022.