BharatPe enters unicorn club, Triples valuation to $2.8 bn with Tiger Global fund raising

Online payment startup, BharatPe has become India's latest unicorn club after it raised $370 million in a fresh funding round led by Tiger Global Management, taking its total valuation to $2.85 billion. 

The New Delhi based digital payment merchant had raised $108 million in February this year at a valuation of $900 million.

The fundraising, which pushes BharatPe into the ​unicorn club, gives the fintech startup capital as it takes over distressed lender PMC Bank with Centrum Financial Services to create a small finance bank

BharatPe is the 19th startup to have achieved unicorn status in 2021 and fifth fintech startup to cross the $1 bn valuation mark this year.

Read/Watch Also: Why WazirX is not betting on crypto as a digital payment asset