Bharatpe plans to expand team size; to set up new tech-hub in Delhi

Fintech firm BharatPe seeks to hire over 75 engineers and project managers to expand its technology team and plans to set up a tech-hub in Delhi.

“BharatPe is coming up with a state-of-the-art tech-hub in Delhi to house its expanded product and technology team. The company plans to hire over 75 engineers and project managers this year and thereby expand its tech team time times,” a statement said.

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The tech-hub will serve as the core for BharatPe’s product development and new innovations, it added. “The company is spending more than $0.5 million to do up the space. In addition, the company will send its tech-hub employees on month-long secondments to the US, China and Europe to learn from leading fintech platforms,” it added.

“ZERO – MDR policy change has positioned BharatPe from a challenger to leader in the Fintech space. While the fintech industry at large over the next 6 months go through denial, re-alignment, funding constraints and lay-offs, BharatPe will use this time to pull ahead and capture the market,” Grover, CEO and co-founder, BharatPe, said.

He added that the company is investing heavily in senior talent and tech talent.

“Our $20 million expanded ESOP pool is up for grabs and the tech-hub should establish us as the employer of choice for technology professionals in Delhi-NCR,” he said.

BharatPe was founded by Ashneer Grover and Shashvat Nakrani in 2018 which offers merchants a single interface for all UPI apps like Paytm, PhonePe, Google Pay, BHIM, Mobikwik, Freecharge and others. The platform caters to over 30 lakh merchants across Bengaluru, Delhi, Hyderabad, Mumbai, Jaipur, Ahmedabad and others.

Its investors include names like Insight Partners, Sequoia and Beenext.

The company said it has grown business 30 times in 2019 and processes over 4 crore UPI transactions a month (annualised total payment volume of $2.5 billion).

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