super.money, a leading UPI platform, has acquired Checkout Financing platform – ‘BharatX’ which enables seamless credit products like Buy Now Pay Later (BNPL) and Pay in X (EMI solutions). With this strategic move, super.money aims to address the growing demand for innovative credit on UPI solutions and empower users with accessible financial solutions.
As part of the acquisition, the core team that developed BharatX will work closely with super.money, integrating their expertise and technology to further scale super.money’s offerings in credit on UPI space. This acquisition aligns with super.money’s commitment to enhancing financial inclusion by providing seamless, flexible, and documentation-free credit solutions.
Prakash Sikaria, CEO and Founder of super.money said, “At super.money, we see credit-on-UPI as a game-changer for financial access in India. By leveraging BharatX’s platform, we are developing unique credit-on-UPI products that align with our shared vision of financial inclusion, empowering millions to transact with ease.”
Mehul Jindal, Founder of BharatX, said, “Over the last 4 years, starting out in college, we were able to provide credit to hundreds of thousands of consumers in India profitably, without any documentation or Credit Score needed. Via this acquisition, we will take our product to newer heights using the wider distribution with super.money”.
The acquisition of BharatX is a strategic move to strengthen offerings in checkout financing and flexible repayment options for super.money’s vast user base. A substantial segment of India’s population continues to face barriers to credit access, due to the requirement of multiple documentation, even after having substantial income from the informal sector. According to the Reserve Bank of India’s 2024 Financial Inclusion Index (FI-Index), nearly 70% of India’s population remains underserved by traditional financial institutions, and only 27% of adults have access to formal credit.
Launched in July 2024, super.money has emerged as India’s 6th largest UPI player, according to the latest NPCI data, achieving remarkable growth and adoption in just six months. In line with its commitment to democratizing access to financial services, super.money has introduced a range of financial solutions including superUPI, superCard, and superFD and plans to expand its portfolio with additional offerings in personal loans and unsecured credit products.
