BharatPe on boards micro merchants for Unified Payments Interface (UPI)-based transactions through quick response (QR) codes. It is now making a foray into lending and other financial services for merchants.
Agarwaal holds more than 18 years of experience and has worked across financial services companies like Indostar Capital, Bajaj Capital, and Fullerton India. He also co-founded Selfin in December 2016 to work on insurance, financial management, and lending.
The company is looking to drive credit for more than 5 million merchants within the next one year and will be investing steadily in promoting this vertical and making top level hires. Agarwaal will be responsible for driving this vertical.
The startup which is backed by Sequoia Capital, Insight Partners, and Beenext, has raised around USD 017.5 million since inception and is in talks to raise about USD 75-100 million from three new investors.