BharatPe acquires majority stake in Mumbai-based NBFC Trillion Loans

Fintech major BharatPe has acquired Mumbai-based non-banking finance company, Trillion Loans. Ravindra Pandey (Former Deputy Managing Director of SBI), Nalin Negi (Interim CEO and CFO of BharatPe) and Sabyasachi Senapati (Head of Banking Vertical at BharatPe) have come on the board of Trillion Loans as part of the deal, the company said in a statement.
 
Trillion Loans is a peer-to-peer lending platform started by Achal Mittal and Gautam Adukia in 2018. Neither of the companies revealed any financial details about the company. 
 
Trillion Loans will operate as an independent entity and will continue to explore partnership opportunities with other companies in this space to enable credit across diverse sectors.
 
Commenting on this move, Shashvat Nakrani, Founder and Chief Operating Officer of BharatPe said, “Providing access to credit to our merchant partners is key to our business model, and this acquisition will further propel our growth and accelerate our journey to profitability. Acquiring controlling stake in Trillion Loans is aligned to the BharatPe Group’s larger purpose and will enable us to facilitate access to capital to a wider set of underserved and unbanked businesses as well as customers.”

He also said that BharatPe will bring in product and technological capabilities that will help Trillion Loans launch new digital-lending products. Nakrani said that together BharatPe and Trillion Loans will endeavour to close the $380 billion gap within the Micro Small and Medium Enterprises (MSMEs) space.

Both BharatPe and Trillion Loans operate within the small business segment.

BharatPe had failed to get an NBFC license in 2019. Later, it partnered with another fintech company called Liquiloans. 

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