In a strategic move to bolster its financial service offerings, Flipkart-backed fintech platform super.money has acquired Bengaluru-based checkout financing startup BharatX. This acquisition aims to integrate BharatX's technology into Super.money's platform, enabling innovative credit solutions for consumers and merchants.
Key Details:
- Acquisition Focus: Super.money has acquired BharatX's technology and key team members to enhance its credit offerings, particularly in checkout financing, including Buy Now, Pay Later (BNPL) and consumer durable loans.
- Integration Plans: The core team from BharatX will collaborate with Super.money for the next six months to integrate their technology and lead the transition.
- Product Expansion: Super.money plans to introduce checkout financing solutions for direct-to-consumer (D2C) and e-commerce brands, starting with consumer durables through a credit line on the Unified Payments Interface (UPI).
- Market Position: Launched in July 2024, Super.money has rapidly scaled to become one of India's top UPI platforms, ranking seventh among UPI apps with 124.83 million transactions in January 2025.
Founders' Background:
- Super.money: Founded by CEO Prakash Sikaria, a senior executive at Flipkart, Super.money aims to provide accessible financial services through innovative products like superUPI, superCard, and superFD.
- BharatX: Established in 2020 by Mehul Nath Jindal, Shyam Murugan, Eeshan Sharma, and Siddharth Venu, BharatX specializes in embedded consumer credit, offering white-labeled BNPL solutions for apps and websites. CEO Mehul Nath Jindal, recognized as a Forbes 30 Under 30 honoree, has been instrumental in driving BharatX's mission to democratize credit access in India.
Funding Details:
- Super.money: Initially funded with approximately $15-20 million by Flipkart in 2023, Super.money is reportedly in advanced discussions for a $35-40 million funding round led by Flipkart, with participation from external investors.
- BharatX: Prior to the acquisition, BharatX had raised $238,000 in funding from investors including Anupam Mittal, Java Capital, and LetsVenture.