Shashvat Nakrani, Founder & Chief Operating Officer, BharatPe

BharatPe becomes profitable in FY25. Not CM level, not EBITDA, but PAT (exc. ESOPs) positive. PBT of +6 cr (up from -342 cr last year) and +141 cr EBITDA over 1734 cr revenue. Probably only fintech unicorn in India to do so within 7 years of inception!

As I cherish this important milestone, mind goes back to the NB23 room of Zanskar hostel, IIT Delhi where it all started with a prototype of All-in-One QR code on back of a notebook (probably blank from all the absent classes)

The problem statement: how do we help merchants work through the rise of multiple payment apps and provide a one stop solution. Did I know that one idea would change my life and the lives of millions of merchants? Probably not.

Today, we are the only fintech with an NBFC (Trillionloans), a stake in a Small Finance Bank (Unity SFB), and an online PA license. We achieved adjusted PBT profitability in seven years flat. But path from the hostel room to here has been far from straightforward.

From getting first 500 merchants on foot in NCR markets to competitors with crazy deep pockets, from battle of cashbacks to figuring out business model on zero MDR, from regulatory changes to web of legal battles. People were quick in writing obituaries like – “BharatPe heading for a shutdown” or a firesale. But overcoming roadblocks has been ingrained deep in our DNA. This phoenix-like rise from the ashes will be a case study for future scholars. BharatPe’s foundation was envisioned to be a resilient organisation. After all our registered name reflects the sentiment, we live and breathe everyday…Resilient Innovations Pvt Ltd