Flipkart's super.money acquires BharatX to bolster credit offerings

In a move aimed to reshape the digital payments landscape, super.money, the UPI app under Flipkart Group, has acquired checkout financing platform BharatX for an undisclosed sum.

The acquisition is aimed at enhancing the app's Buy Now Pay Later (BNPL) offerings and broadening its credit-on-UPI offerings.

BharatX, a Bengaluru-based fintech startup founded in 2019, offers an innovative checkout financing solution that enables shoppers to pay for online purchases in instalments at the point of sale.

With strategic partnerships involving more than 200 brands and collaborations with four banking partners, the company has established itself as a key player in the rapidly evolving digital credit space.

The acquisition will see BharatX's core team integrate with super.money, leveraging their expertise to scale up its existing credit services. This strategic blend is expected to further cement super.money's position in the competitive payments market, following its impressive growth trajectory.

Launched in July 2024, super.money quickly ascended to become the sixth largest payments player by November, outpacing industry giants like Amazon Pay and WhatsApp Pay.

In January alone, the app recorded a 24 percent month-on-month growth, facilitating approximately 125 million transactions, as per data from the National Payments Corporation of India (NPCI).