BharatPe puts Grover episode behind, posts record growth

NEW DELHI: He said while the board will take a call on what to do with the money allegedly defrauded by Grover, his priority is the firm’s employees so that they stay focused and teams remain 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, for my teams. I am just doubling down on these things,” he said. And that focus has paid off well.

“Business in the last quarter (January-March) is up 20 per cent on every metric — transactions, TPV, loans facilitated, and revenue. And this is despite January being (hit by) COVID and everything was slowing a bit. Delhi was shut, many cities had weekend curfews,” he said.

BharatPe, which allows shop owners to make digital payments through QR codes, is now in 225 cities (more than 2x growth from last fiscal) and has over 8 mn merchants onboard (up from 5 mn in FY21 that ended on March 31, 2021).

“Transaction value (TPV) has grown 2.5x year-on-year to $16 billion in 2021-22 (April 2021 to March 2022). POS (point of sale) business is also 2x up from last year with over 1.25 lakh POS machines deployed. We do $4 bn transactions on it, as of March,” he said.