Flipkart Seeking NBFC License; Soon to Venture into Fintech Space

Flipkart is planning to offer credit and insurance products to its customers and sellers. Several Indian publications reported that the Bangalore based company is right now in the middle of applying for its NBFC license. The credit option would be first made available to its Flipkart’s sellers and customers and with time, the company will expand its financial services offerings beyond its platform. Even though the platform has tied with players like Bajaj Finance and several banks to offer EMI-based products, almost 60 per cent of company’s customers do not have access to credit. This is why the company feels enough scope in the fintech segment. Credit availability has been one of the key issues among the online sellers and community has time and again raised concerns related to it. However, this is not for the first time Flipkart has tried to bridge the gap.

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