BharatPe offering BMW bikes, iPads and Dubai trips to attract tech talent

Fintech company BharatPe has revealed aggressive hiring plans to strengthen its talent pool in the technology team. The Delhi-based company, which is planning to launch a slew of products in the merchant and consumer lending space, will be tripling the strength of its technology team and hiring 100 more members.

BharatPe has announced a first-of-its-kind Referral and Joining Policy for any start-up in India. All new tech team members will have an option to choose between bike or gadget Package. The bike package has 5 superbikes as options – BMW G310R, Jawa Perak, KTM Duke 390, KTM RC 390 and Royal Enfield Himalayan. The gadget package includes – Apple iPad Pro (with Pencil), Bose headphones, Harman Kardon speakers, Samsung Galaxy watch, WFH desk and chair, and Firefox Typhoon 27.5 D bicycle.

“BharatPe is a tech-first fintech. As we build the next generation of banking in India, we want to invite and excite the best tech talent to work with us on building market-leading products at scale,” said Ashneer Grover, Co-Founder and CEO, BharatPe. “We will, therefore, be taking the lead in tech talent compensation in India because that’s the only real investment of our business needs, given the capital efficiency of our model.”

BharatPe said it will also host its entire tech team in Dubai for the ICC Men’s T20 World Cup from October 17- November 14, 2021. The tech team members will get a chance to watch the matches of the ICC Men’s T20 World Cup and cheer for their favourite team.

The tech team appraisals for the team have been preponed by 8 months and the team has earned 75 per cent increments split between CTC (cost to company) and incremental ESOPs (employee stock ownership plans), effective July 1, 2021.

The bike and gadget Package is available to anyone referring tech talent to the company. It has been extended to the whole team as well as alumni of BharatPe.

In February, BharatPe raised $108 million in a Series D equity round, at a valuation of $900 million. The financial services company for merchants raised $90 million in primary fundraising and also ensured secondary exit for its angel investors and employees for $18 million.

BharatPe was co-founded by Ashneer Grover and Shashvat Nakrani in 2018 with the vision to make financial inclusion a reality for Indian merchants. Currently serving over 60 lakh merchants across 100 cities, the company said it is a leader in unified payments interface offline transactions, processing over 10 crores UPI transactions per month (annualized transaction processed value of $10 billion). The company has already facilitated the disbursement of loans totalling over Rs 1,600 crores to its merchants since its launch. Its POS (point of sale) business processes payments of over Rs 1,200 crore per month.

BharatPe has raised close to $300 million in equity and debt, to date. The company’s list of marquee investors includes Coatue Management, Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital.

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