Flipkart raises $3.6 billion, values it at $37.6 billion

BENGALURU: India’s homegrown e-tailer Flipkart has raised $3.6 billion in funding 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 investment values Flipkart at $37.6 billion post-money.

Kalyan Krishnamurthy, CEO of the Flipkart Group, said, “This investment by leading global investors reflects the promise of digital commerce in India and their belief in Flipkart’s capabilities to maximize this potential for all stakeholders. As we serve our consumers, we will focus on accelerating growth for millions of small and medium Indian businesses, including Kirana.