Super.money acquires BharatX in all-cash transaction

The financial terms of the deal, including the valuation of BharatX, were not disclosed. Regarding the acquisition, officials from super.money stated that the core team responsible for developing BharatX will now work under super.money. This team is expected to continue leading BharatX for the next six months, after which the arrangement will be reassessed.

Expansion into checkout financing 

Super.money, which launched in July 2024, has positioned itself as an important player in India’s UPI ecosystem. The acquisition of BharatX is primarily aimed at leveraging its technology to enhance credit solutions on the UPI network, according to a company statement. 

BharatX provides financing solutions such as Buy Now, Pay Later (BNPL) and instalment-based payments. Through the acquisition, super.money is entering the checkout financing segment, an area that has seen reduced competition in recent years. Super.money officials noted that as credit cycles have tightened, several companies have exited the space, making it a strategic time for new entrants to introduce products. 

They also emphasised that traditional financing processes were often inefficient due to the absence of UPI-based infrastructure. Integrating checkout financing with UPI, they said, could simplify the process and improve accessibility for consumers. 

Super.money, which separated from digital payments firm PhonePe nearly two years ago, has grown to become India’s sixth-largest UPI player, based on recent NPCI data. Since its launch, the company has introduced financial services such as superUPI, superCard, and superFD, with plans to expand into personal loans and other unsecured credit products. 

BharatX representatives commented that his company has successfully extended credit to a large consumer base in India without requiring documentation or credit scores. They expressed optimism that joining super.money would help scale the platform further through wider distribution. 

The acquisition comes against the backdrop of India’s financial inclusion challenges. According to the Reserve Bank of India’s 2024 Financial Inclusion Index, 70% of the population remains underserved by traditional financial institutions, with only 27% of adults having access to formal credit.