BharatPe has made a strategic move by integrating with the government-backed Open Network For Digital Commerce (ONDC), now offering food ordering and delivery services directly through its app. This integration allows BharatPe’s 15 million customers to access more than 1.4 lakh restaurants spread across 400+ cities in India.
Users can browse various options, place orders, and track them in real-time, adding convenience and ease to the app’s growing list of features.
BharatPe’s Vision and Expansion of Services
This new addition is part of BharatPe’s broader vision to become a comprehensive “Super App” for its users, offering multiple services under one roof. The idea is to simplify the digital experience for customers by eliminating the need for several apps on their phones.
Nalin Negi, BharatPe’s Chief Executive Officer, stated, “We are excited to participate in the ONDC ecosystem to offer a relevant use case to our users, who can now order and get food delivered via our BharatPe app. This resonates well with our mission to empower the growth of local businesses.”
By joining ONDC, BharatPe aims to empower local businesses while providing a seamless experience for users who prefer ordering food from a single app.
Rebranding and New Services
The food delivery feature follows the recent rebranding of BharatPe’s PostPe app, which was transformed into a more streamlined version under the BharatPe brand. As part of this rebranding, BharatPe expanded its digital offerings.
One significant addition was the introduction of its UPI third-party application provider (TPAP) service, developed in collaboration with Unity Bank. This marked BharatPe’s entry into the UPI-based consumer payment space, where it competes with established players like Google Pay, Paytm, and PhonePe.
BharatPe also introduced UPI Lite, a feature that allows customers to preload an online wallet for making small-value transactions, up to ₹500, without the need for a UPI PIN. This service is particularly useful for quick payments, whether it’s for peer-to-peer (P2P) or peer-to-merchant (P2M) transactions, reducing friction in daily digital payments.
E-commerce Expansion
Beyond UPI payments and food delivery, BharatPe has ventured into the e-commerce space. It added a dedicated section within the app where users can purchase vouchers for well-known brands, including Amazon, HealthifyMe, ixigo, Nykaa, Zomato, and several other modern retail and direct-to-consumer (D2C) brands.
This move signifies BharatPe’s intention to become a one-stop-shop for digital services, covering everything from payments to online shopping.
Financial and Strategic Moves
BharatPe’s ambitions go beyond app-based services. Last month, the company increased its stake in its non-banking financial company (NBFC) arm, Trillion Loans, by infusing $8-9 million into the business. BharatPe plans to fully acquire Trillion Loans, which aligns with its long-term financial goals.
This investment came shortly after BharatPe secured ₹85 crore (around $10.1 million) in debt funding from Trifecta Venture and InnoVen Capital. The funds were raised through the issuance of non-convertible debentures (NCDs), allowing BharatPe to expand its financial operations and offerings.
Financial Performance
Despite its rapid expansion, BharatPe reported a net loss of ₹926.9 crore in FY23, a 12% increase compared to ₹828.6 crore in FY22. This rise in losses highlights the significant investments the company has made in scaling up its operations. However, on a brighter note, BharatPe saw a substantial increase in its revenue.
The company’s revenue from operations jumped 125% to ₹1,028.9 crore in FY23, compared to ₹456.8 crore in FY22, reflecting strong business growth in its core areas.
The company continues to invest heavily in product development, partnerships, and new ventures, which it expects will pay off in the long run. Its food delivery integration, growing e-commerce section, and enhanced payment features demonstrate BharatPe’s ambition to become a leading player in India’s fintech and digital services market.
With the ONDC integration and other new offerings, BharatPe is positioning itself as a key digital player that caters to multiple needs under a single platform.
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Disclaimer
This article is intended for informational purposes only. The details provided are based on available sources and reflect current trends and partnerships as of the publication date. Users should verify specifics through BharatPe’s official channels before making decisions related to its services or offerings.
