BharatX, a Y-Combinator-backed startup, has raised $4.5 million in a seed round from Y Combinator, 8i Ventures, Multiply Ventures, Soma Capital, and other investors to enable integrated credit in India. Java Capital, an existing investor, also took part in the round.
BharatX, founded in 2019 by Jindal, Eeshan Sharma, and Shyam Murugan, offers integrated credit on consumer-facing platforms like white-labeled BNPL with no risk to the platforms and simple integration.
The platform has worked with over 50 brands in India, including direct-to-consumer (D2C) brands, and has seen a 10X increase in volume in the previous four months, according to a statement.
The firm intends to use the new funds to grow and expand its personnel, develop its product line, and expand its market.