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BharatX raises $250K in a pre-Seed funding round

BharatX Founder (s): L-R Eeshan Sharma- COO & Co-founder, Mehul Nath Jindal- CEO & Co-founder, Shyam Murugan- CTO & Co-founder, Siddharth Venu- Co-founder

Bengaluru-based BharatX, a fintech firm that enables consumer placing platforms to offer credit-as-a-feature, has secured $250,000 (about Rs 1.81 crore) in a pre-Seed investment round spearheaded by prominent angel investors and other industry experts to help the Indian market embrace Embedded Credit.

Mehul Nath Jindal, Eeshan Sharma, Shyam Murugan, and Siddharth Venu, who are also students at NIT Trichy in their final year of education, founded the company in 2019.

Speaking on the development, Mehul Jindal, founder of BharatX, said: “Over the last decade, startups have brought the Bank to our mobile phones, but they haven’t brought what even the Banks couldn’t deliver – Access to Credit. Our goal with BharatX is to enable easy and cheap access to Credit to Every Middle-Class Indian who deserves it with a Zero Document Flow. Embedded Credit, allows us to acquire users at much lower costs while also creating value for the Platform we partner with, be it through journeys like Khata, Try & Buy, Pay Later, Credit Line, etc.”

Speaking on the investment, Karteek Pulapaka, Partner, Java Capital, said: “We are thrilled to partner with BharatX and back the exceptional founding team led by Mehul Jindal. BharatX offers plug-and-play credit products through an ultralight SDK that can be integrated by brands, e-commerce stores, merchants, and their own mobile apps. The next wave of growth in India will come from its deepening internet penetration and increased data usage. However, much of this growth depends on how easily customers can access credit, and if it is affordable. BharatX can revolutionize how this wave of internet shoppers avail formal credit. We are happy to be part of this mission.”

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