Flipkart secures NBFC licence from RBI

Flipkart has obtained a non-banking finance company (NBFC) licence from the Reserve Bank of India, allowing it to issue loans directly.

This follows its entry into UPI-based payments, marking another expansion into financial services.

The company already works with Axis Bank for credit cards and other financial institutions for consumer credit and buy-now-pay-later offerings. The NBFC licence lets Flipkart manage part of the lending operations internally.

The move comes as Flipkart prepares for an India listing. Its board has approved the process to shift its holding structure from Singapore to India.

Amazon is also expanding its financial services through the acquisition of Axio. Entrackr had exclusively reported the acquisition in  July last year. 

Flipkart’s last known valuation stood at $37 billion in 2024, following a funding round led by Walmart. The NBFC licence gives Flipkart direct access to lending activities, placing it deeper into the financial services market.