BharatPe's angel investors get 80x returns as the company nears Unicorn goal
The fintech company is all set to become an unicorn with current valuation crossing $900 million
Delhi-based fintech company BharatPe has given momentous returns up to 80x to its exiting investors after the company crossed valuation of $900 million in February, according to a report in Business Standard.
“We are super excited though to have returned Rs 125 crore of capital to angels and all ESOP holders, earning them one of the highest returns on investments,” Ashneer Grover, founder and CEO of the company told the publication.
Soon-to-be unicorn BharatPe announced a raise of $108 million (Rs 786 crore) through crowd funding in Series D equity round this month which saw participation from all existing inventors like Coatue, Sequoia Capital, Ribbit Capital, Steadview Capital Management, Beenext, Amplo and Insight Partners.
The company was valued at $410 million after it raised $75 million in Series-C round last February which indicates a 125% jump in valuation.
According to reports, the fintech company returned Rs 102 crore cash to its secondary investors as compared to the first angel round of Rs 1.9 crore.
“The purest relationship between an operator and investor is of returns. I feel immense gratitude for all the angels who took the risk on us and helped our startup. Not a lot of people would know that this was a ‘risk-free’ return, as in a different scenario I would have sold my house to make the investors good. Now heads down back to work – a lot more to be built at BharatPe,” Grover said.