Flipkart-backed fintech venture Super.money has acquired the technology and key team members of BharatX, a fintech credit startup supported by Y Combinator, for an undisclosed amount. This acquisition is expected to bolster Super.money’s credit services, particularly in checkout financing, including buy now, pay later (BNPL) and consumer durable loans. It will also facilitate credit on the Unified Payments Interface (UPI) for Flipkart and direct-to-consumer (D2C) platforms.
Super.money is currently in advanced talks to secure $35-40 million in funding, with Flipkart leading the round and additional investors likely to participate.
“BharatX has been working on BNPL and consumer durable loans for a lot of D2C brands. And as we thought of the next phase of our growth, we wanted to focus a lot on credit lines on UPI and solving for BNPL and consumer durable products via credit line on UPI, both on Flipkart and across D2C platforms. And that is where we saw the synergy with the BharatX platform,” said Prakash Sikaria, a senior executive at Flipkart and the founder of Super.money.
