Flipkart will invest in new business like ‘Phone Pay’

Flipkart, an e-commerce company, proposes that it will spend most of the recently mobilized funds in new businesses, including financial services such as phone pay or online money transfer category. Binni Bansal, co-founder and chief executive officer of Flipkart, said, “A large part of the new fund mobilized by Microsoft, Tensent and eBay will be invested in new businesses, especially in the phone pay and financial tech businesses” News Channel ET Now from Bansal, Bansal said that there are huge opportunities in the payment category because people make a big part of the business by sending money to each other online is.

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He said, “There are definitely opportunities to become a new business in the payment category itself. If you currently look at the business, paying on the phone is a big part of the business of paying people to each other on the UPA platform. ”

It is worth noting that on April 10, Flipkart has raised $ 1.4 billion from technical companies like Microsoft, eBay and Tensent. This is the highest fund mobilized by any Indian internet company so far. Bansal said that Flipkart is making very ‘heavy’ investments in new businesses like grocery, furniture and personal designer clothing (labels).

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