Bengaluru-based super.money, a fintech subsidiary of Flipkart Group, India, is looking to raise $60-100 million at a unicorn valuation. The UPI-powered app, led by Prakash Sikaria, has grown rapidly since its July 2024 launch, becoming India’s fifth-largest UPI app. The funding will support its expansion into secured credit cards, personal loans, fixed deposits, and BNPL (Buy Now, Pay Later).
Flipkart Group’s fintech arm, Super.money, is in discussions to raise $60-100 million at a unicorn valuation, sources familiar with the matter revealed. The Bengaluru-based company, launched in July 2024, has swiftly become India’s fifth-largest UPI app, surpassing competitors like Cred, Amazon Pay, BHIM, and WhatsApp Pay.
Super.money, led by Prakash Sikaria, initially planned to secure $30 million in a funding round backed by Flipkart and external investors. However, after outperforming key business milestones, the company decided to hold off on smaller fundraising efforts to pursue a larger round at a higher valuation.
Super.money’s Growth in India’s Fintech Landscape
Super.money has gained traction by offering cashback rewards of up to 5% on food, travel, and merchant payments. This strategic approach has attracted a strong user base, positioning the company as a key player in India’s digital payments ecosystem.
The fintech startup was spun off from Flipkart with an initial $20 million investment, allowing it to operate independently and expand its financial services portfolio beyond e-commerce transactions. The company’s core focus is to build a 30-40 million strong customer base, targeting young professionals and first-time earners.
Expanding Financial Services Beyond UPI
Beyond UPI payments, Super.money is aggressively expanding into financial products such as:
- Secured credit cards
- Personal loans
- Fixed deposits
- Buy Now, Pay Later (BNPL) solutions
In February 2025, the company acquired BharatX, a Y Combinator-backed checkout financing platform, strengthening its BNPL offerings. The acquisition enables customers to convert their online purchases into easy EMIs at checkout, making digital transactions more flexible.
Flipkart’s Fintech Expansion and IPO Aspirations
Flipkart’s fintech ambitions are strategically aligned with its long-term goal of entering India’s financial services sector. The company has a history of successful fintech ventures, having previously acquired and spun off PhonePe, now India’s largest UPI player with a 47% market share and a $12 billion valuation.
Super.money’s upcoming funding round is expected to enhance Flipkart’s valuation ahead of its anticipated IPO, while also expanding its presence in India’s booming digital payments and credit markets.
As the fintech startup continues to scale, industry experts predict Super.money could become one of India’s next major fintech unicorns, driving innovation in the country’s evolving digital finance ecosystem.
