The fintech platform is gearing to establish its tech hub in Delhi
Fintech platform, BharatPe, will be expanding its technology team this year, by hiring more than 75 engineers and project managers. The platform, which provides a one-stop solution for merchants/traders to collect UPI payments via multiple payment apps in India, will be establishing a technology hub in Delhi, for which this hiring is planned.
The Company is investing over $0.5 million on the new hub. It will be sending the employees at the hub to the US, Europe and China on secondments for a month or so, as part of their training, to expose them to the working of other fintech platforms. The Company is looking out for senior talent as well as tech expertise.
At a time when the organisations in the fintech space are struggling to survive in the face of various challenges including lack of funds and downsizing, BharatPe has been able to hold on. It is offering an ESOP pool worth US$20 million and is aiming to be amongst the best employers for tech talent. The platform already boasts of a wide client base with more than 30 lakh traders using its services in the metros as well as Hyderabad, Jaipur and Ahmedabad.
Its business is reported to have multiplied 30 times last year, and the platform processes more than four crore UPI transactions on a monthly basis. The yearly total payment volume is about US$ 2.5 billion, and it is said to have paid over 15,000 loans in the last three months. It is working on disbursing loans worth Rs 250 crore by March this year.