Flipkart’s parent company comes in with Rs. 370 crore to assist its e-commerce business

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Flipkart marketplace, Flipkart’s Singaporean parent company, sent Rs. 370 crore to its retail platform, Flipkart internet, according to the Registrar of Company (RoC) documents. The payments received by the company hints at a new focus in relation to their delivery service eKart and their payment entity PhonePe.

Going through the archives to January 2016, Flipkart has added about Rs. 1627 crore to eKart and about Rs. 3254 crore to PhonePe. On the flipside, Flipkart’s parent company slashed investment in Flipkart marketplace from Rs. 1629 crore in the previous financial year to Rs. 27 lakh in 2016-17. Their highest ever investment was in 2014-15, where they raised Rs. 5456 crore. They are working on stocking up their granaries for the tougher days that might be approaching.

In their investment round last year, investors like China’s Tencent and Japan’s SoftBank, helped raise $4 billion which allowed them to revamp their spending structure.

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