Amidst Border Standoff, Flipkart Bags $62.8 Mn From China-Based Tencent

Amidst Border Standoff, Flipkart Bags $62.8 Mn From China-Based Tencent

SUMMARY

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.

No results were found for "".
  • «
  • 1
  • »
modal lock

Continue Reading With A Free Inc42 Account

Get the most out of your Inc42 experience by creating a free account. Enjoy personalized recommendations, ad-lite browsing, and access to our exclusive newsletters.