Delhi-based fintech unicorn BharatPe has expanded into investment offerings with the launch of a new app, Invest BharatPe.
Available on the Google Play Store and App Store, the new platform aims to simplify investing for consumers, starting with an accessible digital gold option.
The app marks BharatPe’s move into the investment space, allowing users to access affordable financial products and invest easily.
Digital gold as the first investment product
The first product available on the Invest BharatPe app is digital gold, introduced in partnership with Safegold, a Mumbai-based company.
With this feature, users can invest in pure 24-karat gold with a minimum entry point of Rs 100.
BharatPe also announced a festive promotion, offering an additional 1.1% free gold on every purchase, strengthening the appeal for new users during this high investment period.
Comments from executives
BharatPe CEO Nalin Negi highlighted that the festive season provides an ideal opportunity to launch Invest BharatPe, as this period often represents a time of financial planning and new investments for many households.
“The festive season is the perfect time to launch Invest BharatPe and introduce Digital Gold to our consumers. This period symbolizes new beginnings, and we believe it is the perfect time for individuals to take charge of their financial journey,” Negi said.
He added that BharatPe is committed to helping its customers achieve their financial goals by providing them with a user-friendly and secure investment platform.
Future plans to expand investment offerings
Following the launch of digital gold, BharatPe plans to expand the app’s offerings with other investment options.
According to media reports, the company is in discussions with non-banking financial companies (NBFCs) to introduce fixed deposit products on the platform.
Additionally, BharatPe aims to add other popular investment products, including mutual funds and low-cost investment tools, as part of its aim to create a comprehensive investment suite tailored to different needs consumers.
Negi said, “We will be adding more investment products on our Invest BharatPe platform in the coming weeks. Our goal is to give consumers the flexibility to choose from a range of investment options based on their preferences. of trusted and well-regulated financial products on the Invest BharatPe platform as we strive to become a one-stop solution for consumers looking to secure their financial future.
BharatPe’s shift into consumer financial services
The launch of Invest BharatPe reflects BharatPe’s ongoing strategy to diversify from its core digital payment services into consumer financial services.
The move follows recent changes including the merger of BharatPe’s PostPe app for Buy Now, Pay Later (BNPL) services into its core platform.
By creating a unified app with investment options, BharatPe aims to attract and serve a wider audience in the fintech market, positioning itself as a more versatile fintech player.
Financial performance of BharatPe
Earlier this month, BharatPe reported a 39% increase of operating revenue for financial year 2024 (FY24), reaching Rs 1,426 crore, compared to Rs 1,029 crore in FY23.
BharatPe has also made significant progress in reducing its losses. The company’s consolidated pre-tax loss fell 50 per cent to Rs 474 crore in FY24 from Rs 941 crore in the previous fiscal.