top of page

mPokket Powers Up: Secures $60 Million Boost from BPEA Credit for Growth Surge

Digital lending platform mPokket has secured a significant boost, raising approximately $60 million in debt capital from BPEA Credit, the private credit arm of Baring Private Equity Asia. This injection of funds marks a substantial milestone for the company, especially considering its last funding round amounted to $2.24 million back in January 2020.

The infusion of capital is earmarked for addressing the burgeoning credit demands of mPokket's extensive customer base, which currently stands at a noteworthy 24 million registered users. Additionally, the company aims to expedite its product development initiatives within the realms of career acceleration and insurance services.

Under the stewardship of its founder, Gaurav Jalan, mPokket has carved a niche for itself by catering to the financial needs of underserved segments, particularly youth, including working professionals and self-employed individuals. Boasting an impressive track record, the eight-year-old firm prides itself on maintaining robust profit margins for seven consecutive years.

mPokket's success is further underscored by its substantial loan disbursals, totaling a staggering $1.7 billion, coupled with minimal default rates. The company's financial performance has been commendable, with revenue from operations witnessing a nearly twofold increase to Rs 657 crore in FY23 compared to Rs 334 crore in the preceding fiscal year. However, profit margins experienced a slight decline, amounting to Rs 58.7 crore in FY23 from Rs 107.8 crore in the previous fiscal.

BPEA Credit's involvement in this funding round signals its confidence in mPokket's business model and growth potential. Known for providing growth capital to established mid-market companies, BPEA Credit boasts an impressive track record, having raised three funds and invested over $1 billion across 70 portfolio companies spanning various sectors. Notably, the firm is gearing up to launch its inaugural India-Southeast Asia fund, with a targeted size of $750 million, by the year's end. BPEA Credit has previously backed renowned global entities such as WeWork, a leading co-working space provider.

In conclusion, mPokket's latest funding round underscores its commitment to addressing the evolving financial needs of its vast customer base, while simultaneously positioning itself for sustained growth and innovation. With the backing of BPEA Credit, the company is poised to further consolidate its position as a prominent player in the digital lending landscape.


bottom of page