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Flipkart to Launch Fund to Support New Startups
March 28, 2019
India’s original ecommerce portal Flipkart is set to launch a venture fund to provide financial assistance to early-stage startups in the ecommerce and fintech space. A top executive who is aware of the development said that this is the first time the ecommerce giant has established a dedicated fund to invest in startups. Previously, it went ahead with several startup acquisitions including PhonePe, Myntra, etc.
The new fund will be used to capitalize on innovations that are created for smaller cities covering around 400 million Internet users.
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