Startup Atlas · Digital Payments

BharatPe Unicorn

Resilient Innovations Private Limited ● Gurugram, Haryana ● Founded 2018 ● bharatpe.com ↗

Ashneer Grover · Co-founder & former Managing Director (resigned Feb 28, 2022) Shashvat Nakrani · Co-founder; served as COO, stepped down from operational role April 2026, transitioned to strategic advisor / board director Bhavik Koladiya · Co-founder; former technology/product lead, departed 2022

$731.46 MnTotal funding (tracked)

8Funding rounds

7 Mar 2026Last round

BharatPe: Business Model Canvas

The nine-block Business Model Canvas, filled in only where a public source states it — empty blocks mean we haven't found a citable fact yet, not that the answer is zero.

Value Propositions

Single interoperable QR code, Zero MDR

BharatPe pioneered a single QR code interoperable with 100+ UPI apps and offered Zero Merchant Discount Rate (MDR) payment acceptance, which drove broad merchant adoption.

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Collateral-free merchant credit using transaction data

Uses a merchant's UPI transaction history to assess creditworthiness and disburse unsecured business loans without collateral.

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Customer Segments

Small and medium offline merchants / kirana stores

BharatPe's core operations center on providing financial services to small and medium-sized businesses (SMEs) and offline merchants across India, including kirana/grocery stores.

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Retail consumers (UPI users)

BharatPe UPI app serves individual consumers for scan-and-pay payments, bill payments and rewards, alongside its merchant-facing products.

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Customer Relationships

No cited public information yet.

Channels

BharatPe QR / BharatPe One / BharatSwipe POS devices

Physical payment-acceptance channels distributed to merchants: BharatPe QR, the BharatPe One all-in-one device, BharatSwipe card-swipe POS terminals, and BharatPe Speaker.

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BharatPe consumer UPI app

Consumer-facing mobile app for scan-and-pay UPI payments, credit card and utility bill payments.

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Key Activities

No cited public information yet.

Key Resources

No cited public information yet.

Key Partnerships

NBFC lending partners

BharatPe's merchant loans are disbursed by NBFC partners (with BharatPe's own NBFC arm Resilient Capital also providing on-balance-sheet lending) rather than by BharatPe directly.

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Unity Small Finance Bank

BharatPe holds a stake in Unity Small Finance Bank, part of its broader financial-services investments and subsidiaries.

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Revenue Streams

Merchant lending (interest income)Largest revenue contributor per third-party analysis

Lending is the primary revenue source: interest earned on unsecured merchant business loans, disbursed via NBFC partners using transaction-history-based credit scoring.

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Device rentals / subscriptions

Recurring fees for POS/card-swipe device rentals and subscription fees for premium merchant services such as advanced analytics and marketing tools.

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Financial-services commissions

Commissions earned from partnerships with insurance companies and mutual fund houses distributed through the merchant platform.

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Cost Structure

No cited public information yet.

FAQs on BharatPe

What is BharatPe's business model?

BharatPe's core value proposition centers on Single interoperable QR code, Zero MDR, Collateral-free merchant credit using transaction data.

How does BharatPe make money?

BharatPe's cited revenue streams include Merchant lending (interest income), Device rentals / subscriptions, Financial-services commissions.

Sources & corrections. Every fact on this page is compiled from cited public sources — follow the “source” links beside each entry. Profile sources: tracxn.com · Last verified 13 Jul 2026. · Report a correction