Walmart-backed Flipkart invests $30 million into Supermoney to expand fintech, stock broking push

Flipkart India Pvt., backed by Walmart Inc., is investing $30 million in its fintech unit Supermoney as the e-commerce giant accelerates its push into lending and stock broking, according to people familiar with the matter.

The fresh capital follows a $20 million infusion Flipkart made when it spun off Supermoney last year, the people said, asking not to be identified as the information isn’t public. The business, led by Chief Executive Officer Prakash Sikaria, is also preparing to raise funds from external investors to fuel its expansion, they said.