Bharatpe Customer Care Number: Bharatpe is an Indian fintech company. The company caters to the business from the Kirana stores and small business owners. Therefore, small business owners can start using the Bharatpe app. Bharatpe Customer Care Number: 088825 55444
Furthermore, the company provides QR codes to merchants to make UPI-based payments. The merchant starts using the Bharatpe services and gets the Bharat Swipe (POS) machine for card acceptance. Bharatpe provides financing to small business owners.
It provides the small business owners the facility to accept the payments to the Unified Payments Interface (UPI) free and the Bharat QR codes. In addition, Bharatpe is offering the merchants a loan for 12 months.
The other products available in the business of Bharatpe include a peer-to-peer lending product known as the 12% club. In addition, the company launched a new product in 2020, i.e., digital gold. It allows the user to do the transactions using 24 carats of gold items with 99% purity.
Bharatpe Startup Journey & History:-
Ashneer Grover and Sashvat Nakrani started the company Bharatpe in the year 2018. The headquarters of the company is in New Delhi, India. The company signed the Indian cricketers Rohit Sharma, Jasprit Bumrah, KL Rahul, Muhammed Shami, Ravindra Jadeja, Suresh Raina, Shreyas Iyer, Sanju Samson, Prithvi Shaw, Yuzvender Chahal, and Shubham Gill.
Additionally, Bharatpe signed them as the company’s brand ambassador in 2020. Reserve Bank of India issued the principal approval so that Bharatpe could start working as a small finance company. It started its small finance business with Centrum Finances Limited.
The company will expand its business networking by 2021 to more than 100 cities in India from tier 2 and 3 cities. It includes the other cities such as Vellore, Guwahati, Hosur, Nagpur, Raipur, Amritsar, Bilaspur, Agra, Varanasi, and Pondicherry.
Bharatpe acquired Payback India from American Express and the ICICI Investment Strategic Funds. On the other hand, the company did not disclose any information regarding the transaction value. The company elevated the position of Suhail Sameer and made him the Chief Executive Officer (CEO) and Group President. Ashneer Grover took over the part of the company’s Managing Director (MD). He resigned from the company on March 1, 2022. It happened because of the mishandling of the fund’s issues between Grover and the company, which led to his resignation. Bharatpe management pointed out that his lavish lifestyle was responsible for the mismanagement of funds in the company.
Competitors of Bharatpe Company:-
Bharatpe is not getting direct competition from any Indian companies. Furthermore, the ownership of such companies is not in the hands of the Indians, so, Bharatpe is getting the nationalist benefits. Therefore, it can increase the business of the company. The company distributed some pamphlets by the employees to show the nationalist side of the company. On the other hand, the competitors of Bharatpe compliant with the RBI and filed a lawsuit against it. The Times of India confirmed the pamphlet distribution from the side of Bharatpe.
Moreover, the actions of Bharatpe incensed its competitors of it, Paytm, Phonepe, Amazon, and Google pay. However, the controversy happened between the companies Phonepe and Bharatpe. The two companies fought in court to use the word Pe in the last of the names. The issue between them was sought in the court in July 2021.
Bharatpe Company Controversies:-
There was a sudden announcement from the side of Ashneer Grover to take voluntary retirement from the company until March 2022. He made this announcement at the beginning of 2022. However, he struggled with the controversial issue with the conversation with the Kotak Mahindra Bank. He appeared in the show Shark Tank India in the jury panel with the other sharks. However, he faced controversies due to his specific behavior in discussing the pitch of the contestants in the show. He turned out as a rude personality in the show rejecting the business idea of the people who appeared in the show to get the funding. Bharatpe board decided to call the company’s internal audit regarding the mismanagement of funds. They found that in the tenure of Ashneer Grover and his Madhuri Grover. The couple was involved in the funds’ mismanagement, which caused an Rs. 10 crores loss and financial irregularities of Rs. 53 crore. Therefore, the company canceled the stocks allotted to Madhuri due to the funds’ mismanagement charges on her.