BharatPe, a merchant payment and lending network company, has announced the launch of BharatX which will come up with technology-driven solutions for tomorrow's problems. It plans to build the next generation fintech solution to bring financial inclusion to over 60 million small and medium-sized businesses in India.
In an official release, the company said that BharatX will work in the fields of Artificial Intelligence, Human-Computer Interaction, Econometrics, Data Science 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.
"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," Ankur Jain, BharatPe's Chief Product Officer said.
BharatPe was co-founded by Ashneer Grover and Shashvat Nakrani in 2018. The company serves over 5 million merchants across India including Bengaluru, Delhi, Hyderabad, Mumbai, Pune, Chandigarh, and more. The company has already disbursed more than 25,000 loans to small and medium-sized enterprises, it said in the release.