Flipkart Internet, the Walmart-backed company’s online marketplace division, has received a funding injection from its Singapore subsidiary of $90 million (nearly 722 crore).
This is the first investment this year in the marketplace division of the large e-commerce company. According to reports, on December 29, 2016, the decision to inject cash was accepted.
Two Singapore-based companies, Flipkart Marketplace Private Limited and Flipkart Private Limited, are the source of the new funding.
This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.