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India’s BharatPe valued at $2.85 billion in Tiger Global-led $370 million funding

Indian fintech startup BharatPe has raised $370 million in a new round of financing as it looks to aggressively scale its business in the next two years. It’s the nineteenth Indian startup to become a unicorn this year (up from 11 last year) as several high-profile global investors double down in the South Asian market.
The new round — a Series E — was led by Tiger Global and valued the New Delhi-based startup at $2.85 billion (post-money), it said in a statement Tuesday evening. Dragoneer Investor Group and Steadfast Capital also participated in the new round, which brings the startup’s to-date raise to over $580 million against equity.
Tuesday’s news confirms a TechCrunch scoop from June in which we reported that the four-year-old startup was looking to raise about $250 million at a pre-money valuation of $2.5 billion. BharatPe was valued at about $900 million in its Series D round in February this year, and $425 million last year.
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