Blinkit CFO Vipin Kapooria quits in about a year since taking over; likely to rejoin Flipkart

It remains unclear who Blinkit will appoint as Kapooria’s replacement.

• Blinkit CFO Vipin Kapooria quits after a year, rejoins Flipkart for third stint
• Kapooria exits as Blinkit faces growing competition in quick commerce.
• Top players Blinkit, Instamart, Zepto to compete in public markets soon

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Vipin Kapooria, chief financial officer of Blinkit, the quick commerce arm of Eternal (formerly Zomato), has quit from his position in just about a year since he took over the role, people familiar with the developments told Moneycontrol.

Kapooria, who had joined Blinkit around September-October 2024, is heading back to his former employer, e-commerce major Flipkart, as per sources. He was with Flipkart, in his second stint with the Walmart-owned company, between August 2020 and October 2024.

Moneycontrol was first to report Kapooria was leaving Flipkart in December last year.

In fact, this will be Kapooria’s third stint with Flipkart.

Apart from his time between 2020 and 2024, Kapooria had also worked with the e-commerce major for three years between 2015 and 2018. In total, Kapooria has spent over seven years at Flipkart and is now heading back to the company just before its planned IPO in 2026.

Eternal and Flipkart did not immediately reply to Moneycontrol’s queries.

Blinkit had hired Kapooria as its CFO after a long break. His appointment also marked the first time that Blinkit had a full-time designated CFO since Amit Sachdeva, who worked at the company as CFO and head of finance between 2019 and 2022, left the firm.

The move to have Kapooria as its full-time CFO had come just a few months after Zomato had said Blinkit is the company’s most important business division and just weeks after Zomato (now Eternal) had raised Rs 8,500 crore ($1 billion) through its QIP.

It remains unclear who Blinkit will appoint as Kapooria’s replacement.

The departure comes at a time when the competitive intensity in the quick commerce sector is increasing. Blinkit, the market leader, competes fiercely with Swiggy’s Instamart and Zepto apart from Tata’s BigBasket, Flipkart Minutes and Amazon Now.

The top three players, Blinkit, Instamart and Zepto, will soon compete in the public markets.

Zepto’s IPO would also mean the top three quick commerce startups will all compete in the public markets, a landmark event for an industry that did not exist just 5-6 years ago.

Quick commerce, which has gone from a good-to-have option to a must-have offering, has seen intense competition between Blinkit, Swiggy and Zepto. Other players like Tata’s BigBasket, Flipkart Minutes, Amazon Now are all adding to the competitive intensity.

In fact, a Moneycontrol analysis found that the top three players, Blinkit parent Eternal, Swiggy and Zepto, have together burnt nearly Rs 9,000 crore in the past nine to 11 months.

Nonetheless, the three companies are still sitting on huge piles of cash thanks to two qualified institutional placements (QIPs) of over $1 billion each by Eternal and Swiggy soon after listing.

The three companies, which primarily raised fresh monies to grow their quick commerce business, are together sitting on over Rs 40,000 crore in cash and cash equivalents, indicating they all have a war chest ready to outpace rivals to grab a larger share of the market.