Here how this BharatPe co-founder Shashvat Nakrani 23year in rich list value $2.85bn.bhavik koladiya net worth
Indian Shopkeepers are a harried lot. Events like the Covid-19 pandemic usually hit mom-and-pop or kirana stores the hardest; margins are shrinking every other day.
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BharatPe is a QR code-based payment app for offline businessmen and retailers. The company headquarters is in New Delh. The app allows its users to accept UPI payments for free through the BharatPe QR. The app helps its users to sign in immediately and they start receiving the funds in their bank account. They started with a mission to make payments free for all its users. Its intention is to help all.bhavik koladiya net worth
Legal Name: Resilient Innovations Pvt Ltd
Headquarters: New Delhi, India
Founding Date: 2018
Co-Founder – Ashneer Grover , Shashvat Nakrani , Bhavik Koladiya
BharatPe co-founder Shashvat Nakrani 23year :
There are 46 founders of 26 unicorns on this year’s list. The IIFL Wealth Hurun India Rich List 2021 features 1,007 people, up 179, across 119 cities, up 5, with a net worth of Rs 1,000 crore.
Shashvat Nakrani is an alumnus of IIT Delhi and is co-founder of fintech player BharatPe along with Ashneer Grover and Bhavik Koladiya.
“During my IIT days [around 2017-2018] I was working on a startup. It is then that I identified a huge problem faced by merchants/SMEs—the challenge of accepting payments digitally without losing out on margins,” says BharatPe co-founder Shashvat Nakrani, 22. SMEs, he says, are the backbone of the Indian economy and one of the most underserved segments.
“No payment gateway or wallet was taking less than 1.5% commission. Moreover, awareness of the UPI system was practically zero. That’s when it struck me that we should be leveraging UPI to remove all charges on payments, build a network of merchants, and monetise through other financial products,” adds Nakrani.
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BharatPe owners in rich list value $2.85bn :
- BharatPe founders are Ashneer Grover, Bhavik Koladiya and Shashvat Nakrani.
- Asher Grover is the CEO and the Co-founder of BharatPe. Ashneer is from South Delhi, India, and a graduate of the Indian Institute of Technology, Delhi. He was once the new head of new business at PCJ. Furthermore, he headed Corp Dev for Amex India. He was also previously appointed as the CFO of Grofers.
- Bhavik Koladiya is another Co-founder of BharatPe, who is popularly known as the Group Head – Product and Technology.
How Does BharatPe Earn?
most of person question that surrounds BharatPe is that if it allows free transactions, then how does it earn? The co-founder and CEO of BharatPe, Ashneer Grover had an observation while working with different banking and investment firms. He noticed that since margins were low in retail, local merchants or shopkeepers were not ready to pay for services such as digital payments. But they were ready to pay interest on loans for expanding their business. However, it was tough for them to borrow loans from banks due to great deal of paperwork.
With its unique business plan, BharatPe decided to tap into this gap and offer loans to merchants or local shopkeepers for generating revenue. Here how this BharatPe co-founder Shashvat Nakrani 23year in rich list value $2.85bn
BharatPe Funding Details :
| Date and Month | Transaction Name | Investment Money | Investor’s |
|---|---|---|---|
| August 19, 2021 | Debt Financing | $13.44 mn | Northern Arc |
| August 2021 | Debt Financing | $13.44 mn | – |
| August 2021 | Series E | $370 mn | Tiger Global Management LLC, Coatue Management |
| August 2021 | Secondary Market | $20 mn | – |
| May 2021 | Debt Financing | $6.7 mn | Northern Arc |
| February 2021 | Series D | $108 mn | Coatue Management |
| January , 2021 | Debt Financing | $33.5 mn | Alteria Capital, Innoven Capital and Trifecta Capital |
| February 2020 | Series C | $75 mn | Coatue and Rabbit Capital |
| June 2019 | Series B | $50 mn | – |
| February 2019 | Series A | $14.5 mn | Sequoia Capital India |
| October 2018 | Seed Round | $2 mn | BEENEXT and Sequoia Capital India |
BharatPe solved two major problems of merchants:
- They do not need to install multiple QR codes for different mobile apps, as BharatPe QR code offers interoperability and allows them to accept payments from different apps via single QR code.
- BharatPe Swipe can be installed free of cost and does not charge a commission for transactions. Thus, merchants are not required to pay commission out of their margins.
- The payments are directly transferred to the bank account of merchants the same day.
- There is no daily or monthly limit on transactions.
- BharatPe has a streamlined payment system that minimizes technology-related issues
FAQ on Here how this BharatPe co-founder Shashvat Nakrani :
In india there are 46 founders of 26 unicorns on this year’s list. The IIFL Wealth Hurun India Rich List 2021 features 1,007 people, up 179, across 119 cities, up 5, with a net worth of Rs 1,000 crore.