Flipkart to invest in new businesses like PhonePe

Bengaluru: Flipkart, an e-commerce firm, plans to invest a major portion of the money raised through its recent deals with Tencent, Microsoft and eBay into new businesses such as PhonePe and fintech. The company believes that there is a huge opportunity in the online money transfer segment. The recent eBay partnership and funding is expected to provide a big opportunity to the company in global as well as domestic markets, said Mr Binny Bansal, Co-founder and Chief Executive Officer, Flipkart.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.