Flipkart Raises $3.6 Billion, Valuation Surges To $37.6 Billion

0
(0)

Flipkart Group announced that it has raised $3.6 billion in funding as it continues to grow and advance the digital commerce ecosystem in India and the investment values the group at $37.6 billion post-money.

According to the report, the fundraise demonstrated significant interest from global investors, including sovereign funds, private equity and crossovers in addition to Walmart. 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

The company statement said that this investment reflects global investor confidence in digital commerce in India, which has continued to accelerate over the last year when access to products safely and convenience took priority.

Judith McKenna, President and CEO – Walmart International stated-  “The quality of the investor group and valuation announced today is further confirmation of global confidence in Flipkart and its mission to transform commerce in India.”

Image Source – Google

Do you find this post useful?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Subscribe to our Newsletter

Leave a Comment