Flipkart Internet, the marketplace arm of the c-commerce major, has received Rs 3,250 crore (around $382 million) from its Singapore-based parent, regulatory filings showed.
This is the third such fund infusion in a span of about one year. The same parent made an internal cash transfer of Rs 1,421 crore (around $171 million) in April 2024, Moneycontrol had reported earlier. And a month before that, on March 4 2024, Flipkart Internet had received $111 million from its parent entity.
Since March 2024, Flipkart Internet has received around $665 million from its Singapore related entities, filings sourced via TheKredible showed.
The fund infusion comes shortly after Flipkart raised $950 million (around Rs 8,000 crore) from Google and Walmart, the US retailer that owns Flipkart.
The fund infusion comes at a time when Flipkart is strengthening its quick commerce vertical to capitalise on the growing demand and stay ahead of competitors. Flipkart Minutes, the rapid delivery arm of the company, competes closely with Zomato-owned Blinkit, Swiggy Instamart, Zepto, Tata BigBasket and more in an industry that is worth over $6 billion in size in a span of four years.
Apart from those, Flipkart’s arch rival – Amazon – is also preparing to enter the quick commerce space and intensify competition.
Apart from quick commerce, Flipkart also competes with SoftBank-backed Meesho which is now preparing to raise around $1 billion through an initial public offering (IPO), Moneycontrol had reported last month.
A well funded balance sheet will help Flipkart make decisions more quickly and ward off rivals in an evolving landscape.
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