ENA Sectors 2024-10-29 17:58:15 <p><span style="font-size:14px"><strong>New Delhi, Oct 29 (KNN)</strong> In a significant expansion of its financial services offerings, Delhi-based fintech BharatPe unveiled its new investment platform, Invest BharatPe, on Monday.</span></p> <p><span style="font-size:14px">The platform's inaugural product allows customers to invest in digital gold through a partnership with Safegold.</span></p> <p><span style="font-size:14px">The launch strategically coincides with India's festive season, when gold investments traditionally peak.</span></p> <p><span style="font-size:14px"> The investment platform aligns with our objective of driving financial inclusion for the underserved across the country, said BharatPe CEO Nalin Negi. With many consumers planning gold investments during the festive season, this is the perfect timing for our new offering. </span></p> <p><span style="font-size:14px">The platform will also incorporate BharatPe's lending initiative, 12 per cent Club, though this comes amid recent regulatory changes. The Reserve Bank of India's tightened guidelines around peer-to-peer lending have temporarily halted new customer onboarding for the service.</span></p> <p><span style="font-size:14px">BharatPe has been actively diversifying its product portfolio. In August, the company introduced secured credit products, including two-wheeler loans and loans against mutual funds, partnering with lenders like OTO Capital and Volt Money.</span></p> <p><span style="font-size:14px">This followed its 2022 entry into the gold loans segment, where it offers merchants loans up to Rs 20 lakh against gold collateral through NBFC partnerships.</span></p> <p><span style="font-size:14px">The company's financial health shows signs of improvement, with consolidated EBITDA losses narrowing significantly from Rs 826 crore in FY23 to Rs 209 crore in FY24.</span></p> <p><span style="font-size:14px">Cash burn has been reduced by 85 per cent year-over-year, while the merchant lending portfolio grew by 40 per cent compared to the previous year.</span></p> <p><span style="font-size:14px">This latest move reinforces BharatPe's strategy to become a comprehensive financial services provider, particularly focusing on India's underserved segments.</span></p> <p><span style="font-size:14px">The company's expansion into digital gold investments represents a natural progression in its evolving fintech ecosystem, combining traditional investment preferences with digital convenience.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39753 https://knnindia.co.in/news/newsdetails/sectors/bharatpe-launches-digital-gold-investment-platform-expands-financial-services-portfolio 2024-10-29 17:58:15 knnindia.co.in