Fintech unicorn BharatPe has closed its first secondary share sale in four years, marking a significant moment in the company’s growth journey. In this transaction, a 2.6% stake was picked up by family offices from Gujarat, highlighting renewed investor confidence in the payments startup. The deal comes at a time when BharatPe is preparing for an initial public offering (IPO) in FY27 and showcases the company’s improved financial health and stronger governance.
Strong Backing Ahead of IPO Plans
The latest transaction involved Finix Partners, an entity co-founded by BharatPe’s former director Bhavik Koladiya, selling part of its stake. The buyers were three Gujarat-based family offices who together purchased 2.6% equity in the fintech firm. The total deal value stood at around ₹179 crore, with each share priced at nearly ₹4.06 lakh. This marks the first time since 2021 that BharatPe has facilitated a secondary sale, where existing shareholders cash out by selling their holdings to new investors.
Such a move is often viewed as a healthy sign for a startup. It shows that early backers are finding liquidity while new investors are entering with fresh confidence in the business. For BharatPe, attracting investors from a strong business hub like Gujarat adds an extra layer of credibility ahead of its public listing plans.
Governance Reset at BharatPe
BharatPe has been in the headlines over the last few years due to co-founder exits and boardroom disputes. High-profile names such as Ashneer Grover and Madhuri Jain Grover, along with other early leaders, departed amid governance controversies. This raised concerns about the company’s long-term direction. However, in recent times, BharatPe has taken strong steps to rebuild its leadership structure and reinforce internal governance.
New appointments across finance, compliance, and operations have helped the company steer back on course. With these changes, BharatPe has signaled that it is committed to building a stable and well-governed organization. The secondary sale adds to this narrative, showing that external investors trust the turnaround story and are willing to commit serious capital.
BharatPe’s Revenue Rises in FY25
Alongside governance changes, BharatPe’s financial performance has shown steady improvement. The company reported revenue of ₹1,667 crore in FY25, up from ₹1,426 crore in the previous financial year. More importantly, BharatPe managed to reverse its losses. It posted a profit before tax of ₹6 crore in FY25, compared with a steep loss of ₹342 crore in FY24. This turnaround reflects better cost management, stronger business fundamentals, and growth in its lending and payments services.
Management has also set a target of becoming EBITDA positive in FY25, a key milestone for any company aiming to go public. Positive operating earnings would not only strengthen investor confidence but also provide BharatPe with greater flexibility to scale its services in new markets and product categories.
$100M Pre-IPO Round
The latest share sale is expected to be followed by a pre-IPO funding round worth between $80 million and $100 million. This capital infusion would give BharatPe the firepower it needs to expand its merchant network, invest in technology, and prepare for its much-anticipated IPO in FY27. The company’s improving numbers and successful stake sale suggest it is steadily building the right foundation for a public listing.
For now, the involvement of Gujarat family offices signals strong regional backing and a vote of confidence in BharatPe’s future. As the company positions itself for the next big chapter, this secondary sale stands as a reminder that the fintech sector in India continues to attract long-term believers, despite past challenges.