Most of Flipkart's $1.4 bn funding will go to PhonePe: Binny
Flipkart Co-founder and group CEO Binny Bansal has said a major part of its newly-raised $1.4 billion capital will be invested in new businesses, especially PhonePe and fintech. Flipkart had acquired UPI-based payments startup PhonePe in April last year. Bansal added that the e-commerce major will also invest in automation and artificial intelligence and work on improving customer capabilities.