Thread by @Sequoia_India

1/: @bharatpeindia is bringing millions of small merchants on to the #digital payments ecosystem for the first time. Their goal: to become the largest enabler of free offline #payments and provide a one-stop platform for all #financial commerce solutions.

2/: Through a unique 30 second on-boarding process, @bharatpeindia has already reached a 1.7 Mn user base. 4 Mn+ #merchants will be using the platform by FY 2020.

3/: There are 50 Mn merchants in India, a vast majority of whom are underserved by #banks and #NBFCs. The credit gap in the market is ~$400b. This is the opportunity the company is going after.

4/: When @Sequoia_India first partnered with @bharatpeindia exactly a year ago, the company was processing 3000 txns/day. This month, the company will cross 1 million txns/day.

5/: Currently processing ~2% of overall #UPI transactions, @bharatpeindia is the leader in offline P2M merchant #transactions. #raisethebar

6/: It’s amongst the fastest Indian #internet businesses to clock $1Bn of annualized TPV (within 11 months of launch). @ashneergrover joins us at #SeqPitStop to share more of his vision for India’s rapidly developing #fintech sector.