BharatPe Launches BharatX to Incubate and Nurture Radical Ideas
Hiring multi-disciplinary talent to find radical solutions to India’s hardest problems
New Delhi, June 27, 2020: BharatPe, India’s largest merchant payment, and lending network company, has announced the launch of BharatX, for development and experimentation of radical ideas to solve the next set of merchant and business problems with innovative product solutions.
The raison d'etre for BharatX is to come up with technology-driven solutions for tomorrow’s problems. BharatX will start with building the next generation fintech solution to bring financial inclusion to over 60 million small and medium-sized businesses in India.
Created to incubate and nurture innovation, Bharat X will work in the fields of Artificial Intelligence, Human-Computer Interaction, Econometrics, Data Science, etc. to build new products to create differentiated merchant experiences, draw holistic solutions from cross-functional expertise and, in due course, collaborate to execute those solutions, seamlessly.
Mr. Ankur Jain, Chief Product Officer, BharatPe and Stanford University alumnus, said: “BharatX will truly rewire the DNA in financial services, by going beyond the current ecosystem. BharatX will create a multi-disciplinary environment that combines innovation, creativity, and technology to rapidly prototype and experiment with new ideas and business models to create and deliver the next generation of products for the ubiquitous merchants.”
BharatX has opened the BH1 2020 internship program as the first program and is inviting young students to get exposure to some of the hardest problems of Bharat - the real India.
There are several students who are impacted by COVID lockdown or recent visa restrictions in the United States from Stanford, Harvard, MIT, and several others.
BharatX invites them all to experience and join this revolution. There are limited spots open and the last date to apply for the internship is July 3rd, 2020. The interns will get INR 100,000 per month as a stipend. Please visit bharatpe.com/x for the details.
BharatPe was co-founded by Ashneer Grover and Shashvat Nakrani in 2018 with the vision to make financial inclusion a reality for Indian merchants. BharatPe launched India’s first UPI interoperable QR code, first ZERO MDR payment acceptance service, first UPI payment backed merchant cash advance product, and the only P2P NBFC investment product offering merchants up to 12% interest. Currently serving over 5 million merchants across India including Bengaluru, Delhi, Hyderabad, Mumbai, Pune, Chandigarh, etc. The company has grown business 30x in 2019 and is the leader in UPI offline, processing over 400 million UPI transactions with an annualized total payment volume (TPV) of US$ 2.7 billion. The company has already disbursed more than 25,000 loans to small and medium-sized enterprises.