Walmart-backed Flipkart Raises $3.6 Bln In Funding To Accelerate Growth - Quick Facts

(RTTNews) - Flipkart Group, India's homegrown consumer internet ecosystem, announced Monday that it has raised $3.6 billion in funding as it continues to grow and advance the digital commerce ecosystem in India. Retail giant Walmart (WMT) had invested in Flipkart in an earlier funding round in May 2018. It acquired a 77% stake in Flipkart.

The fundraising demonstrated significant interest from global investors, including sovereign funds, private equity and crossovers in addition to Walmart. This round of funding was led by financial investors GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart.

There were also investments from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, and marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global.

The company said the investment values the Group at $37.6 billion post-money. This investment by leading global investors reflects the promise of digital commerce in India and their belief in Flipkart's capabilities to maximize this potential for all stakeholders.