Flipkart’s Super.money Plans To Raise External Funds, To Launch FDs, Credit Lines Via UPI
Super.money, a fintech venture backed by Flipkart, recently introduced a co-branded credit card in partnership with Utkarsh Small Finance Bank. Dubbed as superCard, this new offering allows users to secure credit cards with limits starting as low as INR 90 by making deposits ranging from INR 100 to INR 10 lakh 👇
The platform, operated by Scapic Innovations, which Flipkart acquired in 2020, has already launched three financial products: UPI services, personal loans via the Flipkart app, and the superCard—a co-branded Rupay credit card.
The super.money app, launched in beta mode two months ago, has witnessed impressive growth, reaching 10 Mn UPI transactions and over 1 Mn app downloads. The company has been working on the project for more than nine months, and its primary focus is on integrating credit with UPI.
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Credit - Inc42 Media