Flipkart Internet Receives INR 1,421 Cr Boost from Singapore Parent

The online marketplace branch of Walmart-supported Flipkart, known as Flipkart Internet, has successfully secured INR 1,421 Cr (approximately $170 Mn) from its parent company based in Singapore through an internal financial transaction.

According to official filings with the Registrar of Companies (RoC), this transfer occurred in two installments — one on March 23 and another on April 6.

This marks the second significant injection of funds from the Singapore entity into Flipkart Internet. Just last month, it received about INR 924 Cr ($111 Mn). In 2024 alone, Flipkart Internet has received a total of around $282 million from its affiliated companies in Singapore.

Related: Flipkart Now Offers Bus Bookings as Part of Travel Services

Earlier reports indicated that Flipkart was seeking to secure a new funding round of $1 billion, with Walmart pledging $600 million. This additional investment is expected to increase Flipkart’s valuation by approximately 5-10% above its previous valuation of $33 billion.

Including this latest funding round, Flipkart India has now received a total of $281 million in investments. The e-commerce giant has been focused on expanding its product offerings in recent times.

The most recent update follows closely on the heels of Flipkart’s decision to enter the quick-commerce sector. In the initial stage of the launch, the company was said to be aiming to expand its services to at least twelve cities. Media reports also suggest that dark stores are being established in various cities such as Bengaluru, Delhi-NCR, and Hyderabad.

Lately, the company has broadened its range of travel services by introducing a bus booking feature on its app. To achieve this, it has established partnerships with various state transport agencies and private service providers. With this addition, Flipkart aims to grant customers access to a whopping 10 Lakh bus connections, spanning across more than 25,000 routes nationwide.

Yet, amidst these developments, the leading ecommerce player experienced a decline in its value by $5 billion (INR 41,432 Crore) as of January 2024 in comparison to January 2022, based on equity dealings conducted by its US parent company, Walmart. The company attributed this decline to the demerger of fintech firm PhonePe into a separate entity.

Flipkart Internet recently secured a hefty internal funding of INR 1,421 Cr (approximately 170 Mn) from its Singapore−based parent company, reinforcing  its financial strength with a total of 282 million received in 2024. The company sought to raise a 1billion funding round, with Walmart committing 600 million, aiming to increase its valuation by 5-10%. Amidst its expansion initiatives, Flipkart entered the quick-commerce sector, expanded its services to multiple cities, and introduced a bus booking feature. However, a $5 billion value decline attributed to the demerger of PhonePe into a separate entity poses new challenges for the leading e-commerce player.