Flipkart sets up $100 Mn Internal Fund to Invest in Early Stage Startups
26 March 2019 12:42 PM IST
Walmart-owned Indian e-commerce giant Flipkart has set up an internal fund of about $60-$100 million to invest across early-stage startups in areas of including fintech, supply chain and SaaS, reported Economic Times citing people privy to the development. In a first such move by Flipkart, it intends to obtain a
- Walmart-owned Indian e-commerce giant Flipkart has set up an internal fund of about $60-$100 million to invest across early-stage startups in areas of including fintech, supply chain and SaaS, reported Economic Times citing people privy to the development.
- This initiative is directed to invest across different start-ups with a bid to strengthen its e-commerce operations.
- Flipkart, which has made several big-size acquisitions like Myntra, Jabong and PhonePe, may use the funds to specifically target startups in areas like personal loans, check out finance and those which can lend to SMEs.
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