Flipkart invests $90 million more in marketplace, PhonePe platform

Bengaluru: Flipkart has pumped a combined $90 million into its marketplace entity and digital payments platform PhonePe, according to regulatory filings made in Singapore.

This takes the total fund infusion in PhonePe to $928 million till date, and Flipkart marketplace to $1.88 billion.

The allotment was made last week by Flipkart Pvt. Ltd., the holding company of the e-commerce platform where Walmart owns a majority stake. This entity operates PhonePe and Flipkart’s marketplace and logistics business.

The funding for PhonePe comes at a time when the payments company is up against WhatsApp Pay, which is preparing to go live to a wider set of users with the help of Reliance Jio.