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Flipkart Raises $ 2.5 Billion From SoftBank Vision Fund

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The Indian ecommerce giant Flipkart has reportedly raised $ 2.5 billion from SoftBank Vision Fund. Shortly after the merger deal between ecommerce rivals Flipkart and Snapdeal collapsed, it was reported Snapdeal’s majority stakeholder SoftBank would invest close to $2 billion in Flipkart.

According to reports, this round of investment would be an extension of the $1.4 billion investment announced by SoftBank in April and will be close to the $2.5 billion mark.  The Vision Fund will be acquiring a mix of primary and secondary capital, giving Flipkart’s biggest backer, Tiger Global a partial exit.

Cofounder of Flipkart, Binny Bansal, announced the investment in a tweet, welcoming SoftBank Vision Fund as their long term partner.


According to a joint statement released by Flipkart, SoftBank Vision Fund will be the largest shareholder of the company and post the investment Flipkart will have an excess of $ 4 billion on their balance sheet. This investment is also the biggest private investment in an Indian technology company.

Speaking about the investment, Binny Bansal said, “This is a monumental deal for Flipkart and India. Very few economies globally attract such overwhelming interest from top tier investors.” The funding round will help accelerate Bengaluru based Flipkart’s investment in driving continued market leadership.

Chairman and Founder of SoftBank, Masayoshi Son, calling India a land of vast opportunity, said, “We want to support innovative companies that are clear winners in India because they are best positioned to leverage technology and help people lead better lives. As the pioneers in Indian e-commerce, Flipkart is doing that every day.” Masayoshi Son has also publicly announced SoftBank’s long term commitment to invest in India.

The CEO of the Vision Fund, Rajeev Mishra said, “The Vision Fund is proud to be a part of this landmark transaction which is a strong endorsement in India and its thriving economy.”

Sachin Bansal tweeted about this investment calling it a monumental deal.

The CEO of Flipkart, Kalyan Krishnamurthy also tweeted saying the investment from Vision Fund comes at an opportune time for Flipkart.

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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe

PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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Piyush Anchliya Joins Cashfree as CFO Amid Fintech Boom

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Cashfree Payment - StartupStories

Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer (CFO), effective April 15, 2025. Anchliya brings over 15 years of experience in investment banking, corporate finance, strategy, and mergers and acquisitions, with senior roles at Barclays, Bandhan Group, and most recently as CFO of Bandhan AMC. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.

In his new role, Anchliya will lead Cashfree’s financial strategy, optimize operations, and support the company’s next growth phase. He will report to CEO and Co-founder Akash Sinha, who highlighted Anchliya’s expertise as vital for sustainable scaling and strengthening the company’s financial foundation. Anchliya succeeds outgoing CFO Vikas Guru, who will assist during the transition.

Founded in 2015, Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. The company recently raised $53 million in funding led by KRAFTON and Apis Growth Fund II and secured key RBI licenses, positioning it for accelerated growth in India’s fintech sector. Anchliya’s appointment comes at a pivotal time as Cashfree aims to expand its leadership in digital payments.

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Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

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Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

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