The banking entity aims to be the digital-first bank
Company expects growth from Unity Small Finance Bank, its joint venture with Centrum Group, says Suhail Sameer
The Delhi-based firm has filed six cancellation actions against multiple registrations held by its rival PhonePe.
The first branch of Unity Small Finance Bank, joint venture between Centrum Group and Bharatpe, will be up and running shorty from city with Rs 1,500 cr growth capital and a Rs 1,300-cr loan book
This is the eighth round of debt fund raise for the company in 2021. BharatPe has raised over Rs 600 crore (about USD 84 million) in debt this calendar year
Fintech major PhonePe has withdrawn its petition against BharatPe's Buy Now Pay Later (BNPL) Postpe platform which had alleged violation of PhonePe's trademark and said it will file a fresh suit. PhonePe had approached the Bombay High Court seeking an injunction to restrain Resilient Innovations, which operates BharatPe, from misusing PhonePe's registered trademarks by using and promoting the marks 'PostPe'/'postpe', PhonePe said in a statement on late Friday night. During the hearing, the Court observed that the mark PostPe adopted by Resilient Innovations is so phonetically, structurally and visually similar to PhonePe mark that it also thought that PostPe/postpe is a natural evolution of the word PhonePe and emanated from PhonePe, the statement added. "However, to address certain observations made by the Court in the pleadings filed by PhonePe, the suit was withdrawn with liberty to file a fresh suit challenging the adoption of mark PostPe/postpe by Resilient Innovations," PhoneP
Customers can download the postpe app from Play Store and avail interest-free credit limit of up to Rs 10 lakh
The proposed business model is one of collaboration and open architecture
The RBI has issued a Small Finance Bank license to the Centrum Group-BharatPe consortium; new SFB has been incorporated as 'Unity Small Finance Bank'
The consortium will take over the assets and liabilities of Punjab and Maharashtra Co-operative Bank
Launches new product 'postpe' towards this end, which customers can download from Play Store and avail interest-free credit limit of up to Rs 10 lakh
Fintech firm BharatPe on Wednesday announced its foray into the 'Buy Now Pay Later' (BNPL) category with 'postpe'
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With 600,000 terminals, the bank is the third-largest PoS acquiring bank in the payments space
Limit lending amount and diversify among borrowers
The '12% club' will allow consumers to not only earn up to 12% interest on the funds they invest but also borrow at an interest rate of 12%
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Delhi-based BharatPe said it has raised Rs 100 cr each as debt from IIFL Wealth & Asset Management, and Northern Arc Capital
The huge capital inflows have enabled large, as well as startup IT firms to launch all-out attempts to acquire a talent pool
The funding would help the firm compete and take on players such Pine Labs, Paytm and Mswipe