Friday, November 22

Tag: BharatPe

BharatPe, PhonePe amicably settle all long-standing trademark disputes on ‘Pe’ suffix
Business News, Feature, National News

BharatPe, PhonePe amicably settle all long-standing trademark disputes on ‘Pe’ suffix

New Delhi, May 27, 2024 Fintech unicorns BharatPe Group and PhonePe Group have amicably settled all long-standing legal disputes pertaining to the use of the trademark with the suffix ‘Pe’, both companies said in a joint statement. BharatPe and PhonePe had been involved in long-drawn legal disputes across multiple courts, over the course of the last five years. The settlement will put an end to all open judicial proceedings, the statement said. “BharatPe and PhonePe amicably settled all long-standing trademark disputes,” the statement said. As a next step, parties have already taken steps to withdraw all opposition against each other in the trademark registry, which will help them to proceed with the registration of their respective trademarks, the statement said.
BharatPe logs nearly 3-fold revenue growth in FY23, trims losses
Business News, Feature, National News

BharatPe logs nearly 3-fold revenue growth in FY23, trims losses

New Delhi, December 26, 2023. Fintech unicorn BharatPe on Tuesday announced that its revenue from operations climbed 182 per cent year-on-year to Rs 904 crore in FY23, while loss before tax fell to Rs 886 crore from Rs 5,594 crore during the period. BharatPe, in a release, said its financial performance for the fiscal year 2023, showcased substantial growth and strategic advancements across key business segments. The company asserted that its strategic focus going forward is on sustained profitability, scaling lending, and launching new merchant-centric products.
BharatPe Turns EBITDA Positive: Clocks October 2023 as the First Profitable Month
Business News, Feature, National News

BharatPe Turns EBITDA Positive: Clocks October 2023 as the First Profitable Month

Gurugram, November 28, 2023. BharatPe, one of India’s leading players in the fintech sector, today announced that it has turned EBITDA positive in October 2023. Additionally, it shared that its annualized revenue has surged past Rs. 1,500 Cr, a growth of 31% from c. This financial milestone is attributed to consistent growth across all its business lines. The company has also significantly cut down its EBITDA burn—which was averaging at Rs. 60 Cr per month in FY23—to attain EBITDA positivity. This significant milestone in conjunction with strong growth is a testament to the efforts of the team, enabled by strategic guidance from the Board. The company will continue taking strides toward being a market-leading financial services platform for the 50 million small businesses across India. ...
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