Flipkart digs deep into India's fintech market; clocked 40% growth in 2019

From providing consumer credit, device insurance to seller financing, Flipkart's fintech category grew 40 per cent in 2019.

Walmart-owned e-commerce firm Flipkart has increased its focus on the Indian fintech market and took on rivals such as Amazon and Alibaba-backed Paytm. Flipkart’s overall fintech category, which comprises consumer credit constructs, device insurance, and seller financing, grew 40 per cent in 2019. As the company brings the next 200 million consumers online, it aims to significantly multiply the number of users having access to its fintech products and services. This includes tier-2 and tier-3 cities where it is seeing a lot of traction.

“We are now able to enable credit to about 65 million customers out of the base