BharatPe launched the World’s 1st Merchant Shareholding Program (MSP) for its merchant partners. It is a $100 million worth program, under which the company offers its merchant customers an opportunity to buy BharatPe’s equity shares and become a partner. The company plans a public listing by 2024 and targets a public listing value of $1 billion.
About the programme:
- The merchant payments and financial services company will roll out the incentive to its more than 7.5 million existing merchant partners. The programme will also be offered to new merchants joining the platform.
- The stock programme is designed to address the gap in wealth creation for merchants and recognize them as active growth partners, BharatPe said, adding that the programme aims to build and sustain loyalty among its merchant partners in a fast-growing fintech segment in India.
Important takeaways for all competitive exams:
- BharatPe Founded: 2018;
- BharatPe Headquarters: New Delhi;
- BharatPe CEO: Ashneer Grover.