Flipkart invest USD 30 million into fintech unit Super.money

Flipkart, backed by Walmart, has invested USD 30 million in its fintech unit, Super.money. This investment follows a prior USD 20 million infusion when the company was spun off last year. The capital will support Super.money’s expansion into lending and stock broking, a move that accelerates Flipkart’s broader push into financial services.

Super.money, launched in 2024, has quickly grown to become one of India’s top UPI apps. Data from the National Payments Corporation of India (NPCI) shows the app handling hundreds of millions of transactions monthly. Super.money’s offerings already include a co-branded credit card and plans to expand into personal loans and wealth products. The company aims for profitability by the end of the year, having already disbursed over USD 700 million through its lending partners.

The investment comes as Super.money prepares to raise external funds to fuel its growth. Flipkart’s move into the fintech sector is a strategic step, especially as the company weighs a potential initial public offering for its core e-commerce business. By building out its financial services arm, Flipkart is diversifying its revenue streams.

In addition to its UPI services, Super.money is developing a simplified stock-trading platform. This effort aims to attract new retail investors in India's growing market. The company’s focus on a user-friendly interface that integrates UPI and AI is designed to make investing more accessible for first-time investors.

The partnership with Super.money follows Flipkart’s own acquisition of a Non-Banking Financial Company (NBFC) license from the Reserve Bank of India (RBI). This license allows Flipkart to offer loans directly to customers, moving beyond its previous model of partnering with third-party lenders.