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In 2014, Flipkart invested in Ngpay to strengthen the mobile payment services since there was an increased focus on mobile ecommerce; Flipkart reported that mobile ecommerce was contributing 50% of its sales. Investment in Ngpay was followed by Flipkart shutting Payzippy – the in-house payment gateway and merged it with Ngpay.
In 2018, Bansal exited Flipkart following the Walmart deal. [6] In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in 2018 was $20.8 billion. [7] In 2018, Bansal held a 5.5 per cent stake in Flipkart, which he sold to Walmart and his net worth then was a little over $1 billion. [7]
In December 2020, Flipkart and PhonePe declared a partial split, with Walmart maintaining its majority ownership in PhonePe and the two entities now functioning independently. [ 22 ] PhonePe announced the acquisition of $350 million from General Atlantic, a US growth equity firm, at a pre-money valuation of $12 billion. [ 23 ]
Walmart's Flipkart marketplace and PhonePe payments business in India could be $100 billion businesses buoyed by strong growth, the retailer's chief financial officer said on Wednesday at an ...
Binny Bansal (born 1982/1983) is an Indian billionaire [2] [3] Internet entrepreneur. [3] As of February 2024, his net worth was estimated at US$1.4 billion. [1] In 2007 he co-founded the e-commerce platform Flipkart.
Flipkart introduced Shopsy in July 2021 [3] [4] as a mobile app that allowed people in India to launch their own online reseller business. [5] [6] [7] By August 2021, the app had adopted a zero-commission marketplace model. [8] [9] Later, Shopsy shifted its focus to become a B2C company. [10]
MobiKwik is an Indian financial technology company, founded in 2009 that provides a mobile phone-based payment system and digital wallet. [3] [4] In 2013 the Reserve Bank of India authorized the company's use of the MobiKwik wallet, [5] and in May 2016 the company began providing small loans to consumers as part of its service.
Ekart logistics or Ekart courier is an Indian courier delivery services company, headquartered in Bangalore, Karnataka. [1] [4] A subsidiary of electronic commerce company Flipkart Pvt. Ltd., it is run by Instakart services Pvt. Ltd. [5] [6]