Indian e-commerce company Flipkart will invest in nascent e-commerce, payments, financial technology and complementary spaces businesses to build an ecosystem of start-ups through a new investment fund. It wants to focus on online business as the country has 400 million Internet users with more and more residents from Tier 2 and 3 cities going online.
"With this initiative, we're delighted to support such innovative early-stage start-ups that are working on next-gen technology in and around our ecosystem,” said Flipkart group’s chief financial officer Emily McNeal in a statement.Indian e-commerce company Flipkart will invest in nascent e-commerce, payments, financial technology and complementary spaces businesses to build an ecosystem of start-ups through a new investment fund. It wants to focus on online business as the country has 400 million Internet users with more and more residents from Tier 2 and 3 cities going online.#
The goal is to seed innovation and promote digital inclusion in a variety of spaces. (DS)
Fibre2Fashion News Desk – India
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