New Delhi, Nov 28: Fintech firm BharatPe announced a positive turn in its EBITDA (earnings before interest, tax, depreciation, and amortization) in October, reporting an annualized revenue of Rs 1,500 crore. This marks a substantial 31% surge compared to the corresponding period the previous year, propelled by robust growth in its lending and payments sectors.
The startup has also made significant strides in reducing its cash burn, which averaged Rs 60 crore per month in the fiscal year 2022-23, ultimately achieving a positive EBITDA.
Nalin Negi, CFO and interim CEO of BharatPe, expressed gratitude for the milestone, emphasizing the trust placed in the company by its extensive network of over 1.3 crore merchant partners. Negi highlighted the notable achievements in October, citing substantial growth and the facilitation of loans through their platform.
