Walmart’s Flipkart attracts SoftBank and Malaysia’s Khazanah as investors, raises US$3.6b in funding

BENGALURU, July 12 — Walmart Inc-owned Indian online retailer Flipkart said today it has raised US$3.6 billion (RM15 billion) in a round of funding, after which it will be valued at US$37.6 billion.

The funding was led by investors GIC, Canada Pension Plan Investment Board, SoftBank Vision Fund 2 and Walmart.

It also attracted investments from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad and private equity firm Blackstone Group Inc-backed Antara Capital among others.

Japan’s SoftBank, which sold its roughly 20 per cent stake in the e-commerce firm to Walmart in 2018, has returned as a shareholder. — Reuters