BharatPe renames 12% Club app as Invest BharatPe; enters larger wealth management play

BharatPe has rebranded its 12% Club app to Invest BharatPe, expanding its scope into wealth management. The Peak XV Partners-backed fintech platform plans to introduce new investment and wealth management features through the revamped app.

Currently available on the Google Play Store, Invest BharatPe has rolled out digital gold investments as its initial offering. The company stated that while fresh deposits for its peer-to-peer lending product have been paused, existing users can still manage their investments through the new app.

As per its app store listing, BharatPe intends to diversify beyond digital gold by incorporating fixed deposits in collaboration with banks, along with various small-ticket investment products. According to an insider, the company might eventually venture into trading and other investment avenues such as mutual funds.

This strategic shift comes after BharatPe resolved its conflicts with co-founder Ashneer Grover. In September, the company announced a settlement with Grover, resulting in his complete disassociation from BharatPe.

Focusing on its fintech growth, BharatPe is now developing a comprehensive strategy that includes lending, consumer payments, and broader investment and wealth management solutions. The company reported a 39% increase in operating revenue for the financial year 2024, reaching Rs 1,426 crore, up from Rs 1,029 crore the previous year. Additionally, BharatPe halved its consolidated pre-tax loss to Rs 474 crore, down from Rs 941 crore in the prior year.

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