Flipkart Raises $3.6 Billion In Funding, SoftBank Back As Investor


Flipkart will be valued at $37.6 billion.

Walmart Inc-owned online retailer Flipkart said on Monday it has raised $3.6 billion in a round of funding, after which it will be valued at $37.6 billion.

The funding was led by investors GIC, Canada Pension Plan Investment Board, SoftBank Vision Fund 2 and Walmart.

It also attracted investments from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad and private equity firm Blackstone Group Inc.-backed Antara Capital among others.

Japan’s SoftBank, which sold its roughly 20 per cent stake in the e-commerce firm to Walmart in 2018, has returned as a shareholder.

Source link