Flipkart secures USD 3.6 bln in funding

Monday 12 July 2021 14:12 CET | News

Flipkart has raised USD 3.6 billion in funding, the total value of the group now being at USD 37.6 billion post-money.

This round of funding was led by financial investors GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2, and Walmart, along with investments from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, and marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global.

According to The Hindu BusinessLine, the key focus area for the Flipkart is to help informal commerce segments leverage the power of technology. This means working with the fashion industry and helping small businesses explore untapped opportunities that technology presents.

Through its grocery and delivery programmes, the group will also work with kiranas to help them digitise and grow.

With more than 350 million registered users from across the country, Flipkart has been investing in different categories, including fashion, travel, and grocery, that reflect India’s maturing digital commerce industry. 

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Keywords: Flipkart, funding, ecommerce, expansion, digitalisation
Categories: Payments & Commerce
Countries: India
This article is part of category

Payments & Commerce