This is an extension of Flipkart’s $1.2 Bn funding round raised in July
The company has raised this investment through its Singapore-based holding
Flipkart had acquired its parent company Walmart’s B2B business in India in July
Homegrown ecommerce giant Flipkart has raised $62.8 Mn from China-based gaming and social media giant Tencent as an extension of its $1.2 Bn funding rounds, the Walmart-owned company’s regulatory filings in Singapore have highlighted.
The filings, which were sourced by business intelligence firm Paper.vc, showed that Tencent will own about 4 to 5.3% stake in Flipkart Pte, which is the online retailer’s Singapore-based holding. Though this is a small investment in the ecommerce giant, it comes as a time when the anti-China sentiment is at its peak.