From Startup to Fintech Force: The BharatPe Story

From Startup to Fintech Force: The BharatPe Story

In the busy markets of India, where shopkeepers once depended mostly on cash and struggled with different digital payment apps, something changed in 2018. A new company called BharatPe entered the scene and made payments easier for millions of small business owners.

BharatPe, co-founded by Ashneer Grover and Shashvat Nakrani, began with a simple but strong dream: to assist retailers in accepting payments from any consumer using any UPI app using a single QR code. What began as a concept quickly grew into a game-changing movement that transformed the way businesses function throughout India.

Before BharatPe, many small stores had 4-5 QR codes at their counters for Paytm, Google Pay, PhonePe, and other platforms. It puzzled both the buyer and the seller.

Ashneer Grover noticed this problem and said:

“We didn’t want to build a fintech company just for big cities. We wanted to help the local shopkeepers, the real heart of India’s economy.”

He and Shashvat wanted to create something simple and useful—one QR code that works with all UPI apps. And they did just that.

Making Payments Easy

BharatPe’s biggest success is the free, universal QR code. With it, customers can pay using any UPI app—Google Pay, PhonePe, Paytm, or others—and the shopkeeper gets the money in their bank account without any fee.

This was helpful in removing misunderstanding. Saved time. Avoided additional costs.

For the first time, small merchants such as fruit sellers and chaiwalas (tea dealers) could readily take digital payments.

Life Before BharatPe

Before BharatPe, digital payments were not easy for small businesses. Many shopkeepers didn’t trust digital money. They were scared of extra fees or didn’t understand how to use apps.

Loans were also a big problem. Most small businesses had no credit history and couldn’t get loans from banks. They had to borrow from moneylenders who charged high interest.

“I had four different QR codes on my counter. Customers would ask which one to use. It was confusing,” says Ramesh, a shop owner in Kanpur. “With BharatPe, I only need one. Life is simpler now.”

What BharatPe Offers

Following its success with the QR code, BharatPe expanded its offerings for shopkeepers:

BharatPe Loans: Small loans with no documentation or security. Loans were based on digital transactions, allowing people who earn digitally to borrow more.

Bharat Swipe: A basic card machine that accepts credit and debit card payments.

Investment Options: To assist merchants in increasing their profits.

This provided small firms with previously unavailable financial capabilities.

We trust our shopkeepers. If they earn digitally, they deserve access to credit,” said Ashneer Grover in an interview.

Big Impact Across India

In just a few years, BharatPe has reached over 10 million merchants in more than 400 cities. It handles billions of rupees in transactions every month. But more than the numbers, it has created real change:

Shopkeepers now feel confident using digital money.

Many have taken loans for the first time.

Business is faster, safer, and easier.

It helped India move closer to its Digital India dream.

Challenges and Growth

BharatPe has also had difficult times. Ashneer Grover, co-founder of the firm, quit in 2022 due to internal conflicts. Despite this issue, BharatPe continued to go forward under new leadership.

Today, BharatPe is still expanding and providing new services. It acquired Payback India, a customer loyalty program, and intends to establish a digital bank for small companies.

The Road Ahead

BharatPe wants to be the go-to financial app for every small business in India. From accepting payments to getting loans, saving money, or investing—it wants to offer everything in one place.

“We dream of a future where every kirana store is digital and financially strong,” said a BharatPe team member.

Conclusion: A QR Code That Changed India.

BharatPe is an authentic Indian success story. It began with a simple idea: make digital payments easier for businesses. That concept evolved into a platform that currently serves millions of small companies.

In a country where currency was formerly king, BharatPe used digital technologies to promote trust, speed, and opportunity. It demonstrates how one good idea, such as a single QR code, can alter everything.

From modest kiosks to larger companies, BharatPe is strengthening India's financial future one scan at a time.