The partnership will focus on the development of a first-of-its-kind aggregator platform for women entrepreneurs, with the objective of providing access to peer support, mentorship, networking channels and a wide range of learning resources
One of India’s top fintech companies, BharatPe Group, today announced a partnership with Women Entrepreneurship Platform (WEP) to support women business owners all over the country on their paths to independence and company expansion. The partnership aims to create a strong ecosystem that unites female entrepreneurs from various regions of India and provides them with the industry expertise, financial resources, and technical know-how they need to achieve their professional objectives. Facilitating the creation of an innovative aggregator platform that provides access to networking opportunities, mentorship, peer support, and a wealth of educational resources will be the main area of focus.
Launched under ‘BharatPe Cares’, a corporate social responsibility initiative by BharatPeGroup, this partnership is in line with the Group’s brand purpose to empower lives through inclusive, innovative and reliable fintech solutions. This specific initiative rests under the CSR program of PAYBACK, a BharatPe company.
Speaking on this announcement, Nalin Negi, CFO and interim CEO, BharatPe, said, “While India is a startup and unicorn hub, the share of women entrepreneurs in the country still remains low. I strongly believe that there is a huge untapped potential for unlocking entrepreneurship among women in India. WEP has an impeccable body of work towards driving women entrepreneurship in the country, and we are proud to partner with them on our shared vision of enabling women entrepreneurs to catalyze the growth of their businesses.”
The sixth economic census by the Ministry of Statistics and Programme Implementation found 8.05 million women entrepreneurs in India, 13.76% of the total 58.5 million. The figure suggests women entrepreneurs need empowerment to pursue their goals. The partnership seeks to remove barriers to women entrepreneurs’ growth in India and create a level playing field.
Commenting on the partnership, Anna Roy, Mission Director, WEP, said, “The entrepreneurial ecosystem in India is thriving but women-led businesses still need a lot of support to help scale businesses, and more so due to social biases. Women entrepreneurs across the country face an unfair disadvantage due to exclusion from networking channels and mentorship opportunities. Women entrepreneurship platform is a public private initiative that aims at providing a continuum of support to women entrepreneurs by leveraging the network of various stakeholders who are part of the ecosystem. The idea is to make these connect seamlessly across board, overcome information asymmetry and empower women by giving them the right information at the right time. With the partnership with BharatPe Group, WEP adds another important stakeholder to this vast and growing network of partner organizations that will help combine the effort of both the industry players towards leveling the playing field for women entrepreneurs as well as expanding the funnel to get more women to start their own enterprises.”
BharatPe will also facilitate the development of learning sources curated around specific sectors to support capability development and equip women entrepreneurs with the required domain knowledge to scale their businesses.
BharatPe was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, BharatPe launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatSwipe. Currently serving 1 crore merchants across 400+ cities, the company is a leader in UPI offline transactions, processing 30 crores+ UPI transactions per month (annualized Transaction Processed Value of over US$ 24 Bn in payments).
WEP (Women Entrepreneurship Platform) was ideated and incubated in NITI Aayog and presently being operated as a unique public private partnership. WEP is a one-stop platform that aggregates resources and services for women entrepreneurs, providing them with personalised information and services to assist in their entrepreneurial journey.