New Delhi: Flipkart Group’s UPI payments platform, Super.money, has acquired checkout financing startup BharatX in a move to expand its credit offerings, particularly in the Buy Now Pay Later (BNPL) segment. The financial details of the acquisition remain undisclosed.
Strengthening Credit-on-UPI Services
The acquisition will integrate BharatX’s credit infrastructure with Super.money, allowing the platform to scale its lending services. Super.money’s CEO and founder, Prakash Sikaria, said the company aims to develop new credit-on-UPI products, leveraging BharatX’s capabilities to enhance financial accessibility in India.
BharatX, founded in 2019, has partnerships with over 200 brands and four banking institutions to provide checkout financing options. The startup previously raised $4.74 million in funding from investors, including Y Combinator, Multiply Ventures, Soma Capital, Java Capital, and 8i Ventures.
Mehul Jindal, founder of BharatX, stated that the acquisition would help take their product to a wider consumer base, benefiting from Super.money’s distribution network.
Super.money’s Expansion in Digital Payments
Launched in July 2024, Super.money has rapidly expanded its footprint in the payments ecosystem. By November, it became the sixth-largest UPI payments player, surpassing Amazon Pay and WhatsApp Pay. Super.money has been diversifying its financial services, launching fixed deposits in partnership with small finance banks in November 2024.
The company also plans to introduce credit cards and personal loan products in the coming months, further strengthening its position in the digital lending space. With the acquisition of BharatX, Super.money is looking to enhance its presence in India’s growing credit-on-UPI market, which is gaining traction as an alternative to traditional credit access.
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