Flipkart raises $700 million in fresh investment

Flipkart, India’s largest marketplace, on Saturday, said it had raised $700 million in fresh round of financing.

The new round of funding brought five new investors such as Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associates and Qatar Investment Authority on board.

As per an organization articulation, a part from the new investors, existing investors, including DST Global, GIC, ICONIQ Capital and Tiger Global, also partook in this most recent financing round.

“These funds will be utilized towards long-term strategic investment in India and to build a world-class technology organization, delivering superior customer experiences,” the announcement said.

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