Flipkart marketplace platform has received $62 million from parent entity Flipkart Pvt. Ltd, taking the total fund infusion from the holding entity to $1.88 billion.
Flipkart Pvt. Ltd, where Walmart is a majority stakeholder, operates Flipkart’s marketplace, logistics unit and digital payments platform PhonePe. During the same round, PhonePe also received $28 million from the Singapore-based parent entity, according to an ET report citing regulatory filings.
The fresh capital infusion for the e-commerce giant has come at a time when their majority part of the business isn’t operational.
Continue reading Flipkart marketplace receives $62 Mn from holding entity at Entrackr.