BharatPe won the national startup awards 2020 in fintech category. In the category, there were a total of 77 contestants. The category was divided into two themes; Payment wallets and P2P lending and Financial Literacy Engagements.
There was only one winner in the whole of the fintech category, and 12 finalists.
The FinTech sector in India has seen a funding boom in the last five years, with funding increasing at a CAGR of 98% in the past six years. Today, there are more than 1200 active FinTech companies in the country and their number is growing constantly.
Resilient Innovations Private Limited
Resilient Innovations is working on offering financial services to merchants in the SME sector. With its app BharatPe, it is empowering entrepreneurs by enabling them to accept UPI payments initiated from any app. BharatPe’s 0% merchant discount rates also give merchants the best lending and deposit rates in the market.
Product summary
BharatPe, which uses QR code-based payments, was the first to launch a QR code system that could accept payments from all other UPI payment apps in India. BharatPe also offers short-term digital loans to merchants without any collateral to help solve their working capital requirements.
Impact
- Enables acceptance of UPI payments for SMB merchants from over 150 payment apps in India.
- Processing over 50% of offline UPI P2M transactions.
Support and recognition
Won the ‘Innovation in Digital Payments through Emerging Technology’ prize at the Ministry of Electronics and Information Technology (MeitY) Fintech Awards October 2019.
Website
Following were the other finalists in the category:
| Name of Startup | Category | City | State |
|---|---|---|---|
| SILICONVEINS PRIVATE LIMITED | Financial Literacy Engagements | Mumbai | Maharashtra |
| NEARBY TECHNOLOGIES PRIVATE LIMITED | Financial Literacy Engagements | Mumbai | Maharashtra |
| GC WEB VENTURES PRIVATE LIMITED | Financial Literacy Engagements | Delhi | Delhi |
| KASHI CAPITAL PRIVATE LIMITED | Financial Literacy Engagements | Varanasi | Uttar Pradesh |
| ARYADHAN FINANCIAL SOLUTIONS PRIVATE LIMITED | Financial Literacy Engagements | Noida | Uttar Pradesh |
| MAHAGRAM PAYMENTS PRIVATE LIMITED | Financial Literacy Engagements | Mumbai | Maharashtra |
| RESILIENT INNOVATIONS PRIVATE LIMITED | Payment Wallets and P2P Lending | New Delhi | Delhi |
| ROI NET SOLUTION PRIVATE LIMITED | Payment Wallets and P2P Lending | Gurugram | Haryana |
| NAFFA INNOVATIONS PRIVATE LIMITED | Payment Wallets and P2P Lending | Bengaluru | Karnataka |
| UDMA TECHNOLOGIES PRIVATE LIMITED | Payment Wallets and P2P Lending | UDUPI | Karnataka |
| ZERONE MICROSYSTEMS PRIVATE LIMITED | Payment Wallets and P2P Lending | New Delhi | Delhi |
| PAYMART INDIA PRIVATE LIMITED | Payment Wallets and P2P Lending | Chandigarh | Chandigarh |
Source: Startup India
