Antares, AZB, Khaitan advise on BharatPe fundraise

By January 24, 2022 No Comments
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Antares Legal represented lending and digital payments startup Resilient Innovations, which operates as BharatPe, on its recent USD370 million series E equity fundraise led by new investor Tiger Global.

AZB & Partners advised Tiger Global, while Khaitan & Co advised existing investor Insight Partners. The deal was announced on 4 August and is yet to close.

BharatPe’s in-house legal team comprised GC and head of corporate strategy and corporate affairs, Sumeet Singh, as well as Divyam Sharma, Dhruvi Shah and Aanchal Aggarwal.

Antares Legal’s team led by partner Siddharth Bhavnani and senior associate Surbhi Kothiala, while associates Mohona Thakur, Amrusha Monga and Navya Mehrotra assisted on the deal. Partner Surbhi Gupta provided input on regulatory aspects of the deal. Antares Legal has advised on all BharatPe’s equity fundraise mandates since its incorporation in 2019.

AZB & Partners’ team comprised partners Ashwath Rau, Srinath Dasari and Nanditha Gopal, and senior associates Adoksh Shastry and Karishma Dugar.

Khaitan & Co’s team comprised partner Mayank Singh, principal associate Sushrut Biswal and associate Yash Bajpai. Partner Ritu Shaktawat and principal associate Sneh Shah advised on tax aspects.

Other investors in the funding round, which values BharatPe at USD2.85 billion, include Dragoneer Investment Group, Coatue Management, Sequoia Growth, Ribbit Capital, Steadfast Capital and Amplo.

On 18 June, BharatPe announced that it was to partner with non-banking financial company Centrum Financial Services to establish a small finance bank, for which the Reserve Bank of India had issued in-principle approval.

The bank is expected to acquire distressed lender Punjab & Maharashtra Co-operative Bank.