Softbank has made investment in Flipkart through its $100 billion technology focused Vision fund. The investment has been a mix of primary and secondary capital.
This investment is a part of Flipkart’s recent round where it has raised $1.4 billion from Tencent, eBay and Microsoft. Following this round it will now be having over $4 billion of cash on its balance sheet, Flipkart said.
Binny Bansal and Sachin Bansal, co-Founders of Flipkart said in a statement that “This is a monumental deal for Flipkart and India. SoftBank’s proven track record of partnering with transformative technology leaders has earned it the reputation of being a visionary investor. We are excited to welcome the Vision Fund as a long-term partners as we continue to build our business with a focus on serving the needs of all Indians, and driving the next phase of technology adoption in India.”