Super.money, a financial service platform spun off from Flipkart, has partnered with payments infrastructure firm Juspay as it expands into direct-to-consumer (D2C) checkout and aims for $100 million in annual revenue by 2026.
The partnership comes as Juspay works to recover after facing challenges from major payment companies earlier this year,which impacted its fundraising.
Last week, Super.money launched Super.money Breeze, a D2C checkout product promising a one-click experience and faster online purchases. TechCrunch reports Juspay is powering the payments infrastructure for this offering.
This move could help Super.money reach new customers and gain visibility among D2C brands, extending its reach beyond Flipkart’s user base. While benefiting from flipkart’s distribution, the checkout product signifies an effort to establish an independent identity in the e-commerce ecosystem.
The partnership is especially meaningful for Juspay,which is working to regain traction with Indian merchants. The softbank-backed company lost clients after payment gateways like Razorpay and Cashfree Payments moved away from Juspay in January, encouraging merchants to use their in-house processing tools. This affected Juspay’s fundraising, resulting in a $60 million round, lower than the initially expected $100 million.
Juspay was a preferred back-end partner for payment aggregators, reducing transaction failures through its payment routing platform. It counts Amazon as a client and received a payment aggregator license from the Reserve Bank of India last year. However, competition in India’s digital payments space has led players like Razorpay, Cashfree, and PhonePe to reduce reliance on third-party providers.
Super.money’s partnership with juspay contrasts with the trend of payment players building their own infrastructure. However, for a young fintech expanding beyond Flipkart, it offers a shortcut to D2C integrations without building full-stack payment capabilities. It also signals Super.money’s intent to increase its involvement in consumer transactions and payments through its platform.
Flipkart’s Super.money Aims for $1 Billion Valuation as it Expands Beyond E-commerce
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Flipkart, the Indian e-commerce giant, is positioning its fintech arm, Super.money, for significant growth. While PhonePe, previously a Flipkart-owned entity, now operates independently under Walmart, Super.money remains closely integrated with Flipkart, focusing on monetizing financial services within and extending beyond the e-commerce platform. The company is currently seeking external funding and aims for a valuation of $1 billion as early as next year.
Super.money’s Genesis and Leadership
Flipkart has already invested $50 million in Super.money to launch its operations. https://www.moneycontrol.com/news/business/startup/walmart-backed-flipkart-invests-30-million-in-fintech-arm-supermoney-13569411.html The company is led by Prakash Sikaria, formerly Flipkart’s Chief Experience Officer for customer growth, marketing, ads, and new initiatives. Sikaria also founded Shopsy, Flipkart’s social commerce platform, and played a key role in the acquisition of Cleartrip, as well as the development of Flipkart ads and SuperCoins. https://www.linkedin.com/in/prakashsikaria/details/experience/
Expansion Plans and Revenue Projections
Super.money is actively pursuing external funding and is in discussions with investment banks to secure a round at a $1 billion valuation in the coming year, according to sources. The company is currently projected to achieve approximately $30 million in annual recurring revenue (ARR) by the end of 2025 and aims to more than triple this figure to over $90 million in 2026. This growth will be primarily driven by expansion in its secured credit card business, personal lending offerings, and the recent launch of a direct-to-consumer (D2C) checkout product.
Focus on Financial Services within the Flipkart Ecosystem
super.money’s strategy differs from that of PhonePe, which became the dominant player in India’s Unified Payments Interface (UPI) landscape after its spin-off. While PhonePe operates independently under Walmart, Super.money is designed to leverage Flipkart’s existing user base and integrate financial services directly into the e-commerce experience. This includes offering financial products tailored to online shoppers and expanding beyond the core e-commerce platform.
Competitive Landscape and Challenges
Super.money faces a highly competitive fintech market in India. Established players like PhonePe, Google Pay, and Razorpay are all investing heavily in payments infrastructure and financial services. Successfully converting its UPI scale into sustainable revenue, particularly through lending and checkout infrastructure, will be crucial for Super.money’s success. The company’s trajectory will be closely watched to see if it can replicate the success of phonepe or encounter similar challenges faced by Juspay, a Flipkart partner currently navigating a competitive ecosystem.
it’s importent to note that Flipkart, Sikaria, and Juspay co-founder and CEO Vimal Kumar did not respond to requests for comment regarding this matter.