BharatPe gets new investor in Series A round


Khaitan & Co advised Insight Venture partners on the deal

Digital payments firm BharatPe, which services offline retailers and businesses, has raised $15.5 million in a Series A round of funding. US-based investment firm Insight Partners joined existing investors Sequoia Capital and Beenext in the round, BharatPe said in a statement.

The fintech startup, which is owned by Resilient Innovations Pvt. Ltd, said that it will use the fresh capital for scaling up its operations within the next two years.

BharatPe was founded in April last year by Ashneer Grover and Shashvat Nakrani. Prior to setting up BharatPe, Grover led new business at PC Jeweller and was the chief financial officer at online grocery delivery company Grofers in an earlier stint, while Nakrani is an engineering graduate from IIT-Delhi, their LinkedIn profiles show.

Khaitan & Co advised Insight Venture partners with a team including Mayank Singh (Picture), Nidhi Killawala, Akshay Sharma, Maitreye Parashar (M&A),Shailendra Bhandare and Vidhi Kotak (IP&IT).

Involved fees earner: Shailendra Bhandare – Khaitan & Co.; Nidhi Killawala – Khaitan & Co.; Mayank Singh – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Insight Venture Partners;

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Author: Michael Patrini