Indian e-tailer Flipkart Raises $150M In Funding

Summary: South African company Nasper and Iconiq Capital are the new investors in Flipkart, with the former pumping in US$90 million, and the money will be used on expanding supply chain capacity and growing its talent pool.

Five-year-old Native indian online store Flipkart has properly secured its financial situation for the next three years after it brought up US$150 Million from new traders such as Nasper and Iconiq Investment, as well as current ones in Competition International and Accel Associates.

The Times of Native indian revealed on Weekend that Southern Africa press organization Nasper, through its Native indian arm MIH Native indian, led the investment circular when it dedicated US$90 Million and, by doing so, becomes its second-largest investor after Competition International.

With the amount brought up, this principles the e-commerce organization's value at around US$800 Million and it will no longer be reliant on performing an offshore preliminary public providing (IPO) to increase resources and continue functions, it included.

The resources will be used on increasing the organization's supply cycle potential, releasing new product groups, and increasing its ability share to keep it prior to its opponents, the organization mentioned.

"This circular of financing would petrol our development plans, and help us accomplish our mentioned aspirations of reaching US$1 billion dollars in total products value by 2015," said Flipkart's co-founder and CEO Sachin Bansal in the review.

The organization had in Feb declared it purchased regional competing Letsbuy for an undisclosed sum in order to negotiate its position in the regional e-commerce market, worth some US$10 billion dollars, after the access of Amazon via its new Web site

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