Inclusive Growth Innovation

BharatPe wins national startup awards 2020 in fintech category

BharatPe enables acceptance of UPI payments from over 150 payment apps in India.

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

https://bharatpe.com/

Following were the other finalists in the category:

Name of StartupCategoryCityState
SILICONVEINS PRIVATE LIMITEDFinancial Literacy EngagementsMumbaiMaharashtra
NEARBY TECHNOLOGIES PRIVATE LIMITEDFinancial Literacy EngagementsMumbaiMaharashtra
GC WEB VENTURES PRIVATE LIMITEDFinancial Literacy EngagementsDelhiDelhi
KASHI CAPITAL PRIVATE LIMITEDFinancial Literacy EngagementsVaranasiUttar Pradesh
ARYADHAN FINANCIAL SOLUTIONS PRIVATE LIMITEDFinancial Literacy EngagementsNoidaUttar Pradesh
MAHAGRAM PAYMENTS PRIVATE LIMITEDFinancial Literacy EngagementsMumbaiMaharashtra
RESILIENT INNOVATIONS PRIVATE LIMITEDPayment Wallets and P2P LendingNew DelhiDelhi
ROI NET SOLUTION PRIVATE LIMITEDPayment Wallets and P2P LendingGurugramHaryana
NAFFA INNOVATIONS PRIVATE LIMITEDPayment Wallets and P2P LendingBengaluruKarnataka
UDMA TECHNOLOGIES PRIVATE LIMITEDPayment Wallets and P2P LendingUDUPIKarnataka
ZERONE MICROSYSTEMS PRIVATE LIMITEDPayment Wallets and P2P LendingNew DelhiDelhi
PAYMART INDIA PRIVATE LIMITEDPayment Wallets and P2P LendingChandigarhChandigarh

Source: Startup India

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