Walmart-Backed Flipkart Invests $30 Million in Fintech Arm Supermoney

Flipkart, the e-commerce giant backed by Walmart, is investing $30 million in its fintech arm, Supermoney. This move aims to accelerate Flipkart's expansion into lending and stock broking services, according to sources familiar with the matter. Flipkart, one of India's leading e-commerce platforms, has been diversifying its business beyond its core online retail operations. The investment in Supermoney is part of this strategic shift, as the company seeks to leverage its large customer base and data to offer financial services. The infusion of $30 million is expected to support Supermoney's growth and product development, as Flipkart looks to capitalize on the growing demand for digital financial services in the Indian market. This investment aligns with Flipkart's efforts to provide a more comprehensive ecosystem of products and services to its customers. The move underscores Flipkart's ambition to expand its footprint beyond e-commerce and position itself as a multi-faceted tech platform that can cater to various aspects of its customers' lives, including their financial needs.