quit Ashneer Grover Controversy Behind Fintech Platforms BharatPe It has closed one of the highest growth quarters in its history, with credit facilities of over Rs 3,600 crore in the first quarter of FY 2013 (April-June period).

This is an increase of 112% over the previous quarter. BharatPe said it reached an all-time high of $18.5 billion in annual total payment value (TPV) – a 50% increase over the previous quarter.

“After a successful FY22, which we closed with 3x growth in merchant loans, 2.5x growth in payments and 4x jump in revenue, BharatPe has registered its ‘best ever quarter in Q1, FY23,'” said . Suhail SameerCEO, BharatPe.

“We are on an incredible growth journey, driven by a drastic change in attitudes towards digital payment modes, the rise of UPI and increasing acceptance of new-age fintech products,” he added.

The company facilitated distribution to over 1.2 lakh merchants in the first quarter of FY 2012 as compared to 66,000 merchants in the last quarter of FY 2012.

Additionally, BharatPe’s other product offerings, including card acceptance POS business (BharatSwipe) and its investment platform for traders recorded steady growth (over 30 percent) over the previous quarter.

Sameer said, “We are looking forward to achieving our target of $2 billion in credit facilities (through our NBFC/bank partners) for both consumer and merchant business by the end of FY23 as well as TPV by March 2023. are on track to raise up to $30 billion.”

The company saw its biggest controversy earlier this year, when its co-founder and CEO Ashneer and his wife Madhuri Jain Grover embezzled crores of rupees and were later sacked by the company.

stay high technology And Startup News that matters. to subscribe Get the latest and must-read tech news in our daily newsletter, delivered straight to your inbox.