Flipkart applied for the license in 2022, as per the report, which added that the ecommerce company may start the lending operations in a few months.

Flipkart, in which U.S. retail behemoth Walmart holds a more than 80% stake, applied for the licence in 2022, according to the central bank's approval letter.

Flipkart, where U.S. retail giant Walmart holds more than an 80% stake, applied for the license in 2022, according to the central bank’s approval letter. 3rd party Ad.

The license has been granted to Flipkart Finance Pvt., a company spokesperson said. The NBFC license allows the company to lend money but not accept deposits.

According to Tracxn, Flipkart has raised total equity funding of $12.1 billion so far and its annual revenue as on March 31, 2024 stood at Rs 70,800 crore ($8.56 bn).

Flipkart has received a lending licence from the Reserve Bank of India (RBI), the Walmart-backed ecommerce company confirmed on Thursday. The nod came in March this year, according to sources.

Flipkart, in which U.S. retail behemoth Walmart holds a more than 80% stake, applied for the licence in 2022, according to the central bank’s approval letter.

More than a year ago, when we unpacked Flipkart’s fintech ambitions, we never expected this new vertical to become the focal point for Flipkart. But now, with an NBFC licence, the ecommerce ...

This approval has not been reported previously. Flipkart, where U.S. retail giant Walmart holds more than an 80% stake, applied for the license in 2022, according to the central bank’s approval letter ...