Payment app BharatPe has closed its series B funding round at USD 50 million. US-based Ribbit Capital led the round while Steadview Capital has come on board as the new investor.
The company will be valued at USD 225 million.
This development has come a few days after BharatPe crossed 18 million monthly transaction volume mark and emerged as one of the fastest-growing fintech company focusing on offline merchants and retailers.
The Sequoia Capital-backed firm is targeting 30 million transactions every month by Diwali.
Launched by Grover and Shashvat Nakrani, BharatPe enables offline merchants to accept digital payments through any Unified Payment Interface-enabled apps such as Paytm, PhonePe, Google Pay, BHIM, Mobikwik, Freecharge and Truecaller.