Indian fintech unicorn BharatPe is in advanced talks to raise $80-100 million in a pre-IPO round led by Coatue Management, the Entrackr reported citing unidentified people.

Some new and existing investors will participate in the funding round.

Earlier Coatue had led a Series D funding round of $108 million in BharatPe at a valuation of $900 million in February 2021.

Few months later, BharatPe entered the famed unicorn club of startups after it raised $370 million in a Series E funding round led by returning investor Tiger Global. Coatue was among the bunch of investors which had chipped in capital during that round as well.

BharatPe's advanced talks to raise a pre-IPO round comes after the fintech company last week said it has achieved its first ever adjusted profit before tax (PBT) of Rs 6 crore in fiscal 2024-25, as compared to a net loss of Rs 342 crore in the previous financial year.

The company's CEO Nalin Negi had said in a statement that the positive PBT signalled a successful turnaround for the company. BharatPe had been entangled in a long standing legal dispute with its co-founder Ashneer Grover over allegations that Grover and his family members misappropriated company funds. The dispute was settled last year.

Earlier in June, The Head and Tale had reported that performance pressure is mounting at BharatPe, triggering leadership shakeups and engineering changes ahead of its initial public offering (IPO).