Bigger India

Flipkart Internet Gets SGD 655 Mn Fund Infusion From Singapore Ahead of Diwali Season

The resolution was passed at the board meeting held on August 30, 2018.

Flipkart Internet, the online marketplace arm of the Walmart-backed company in India, has received an over SGD655-million (INR3,462-crore) investment from Flipkart Marketplace, Singapore, as per regulatory documents in India.

The fund infusion – done in two tranches – is set to reportedly provide more ammunition to Flipkart, which is locked in an intense battle with US-based Amazon for leadership in the burgeoning Indian e-commerce market.

Read it at Connected to India

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