Morgan Stanley had picked up shares in Flipkart as a part of its series D round of funding in 2013, when the e-tailer had raised $360 mn in two tranches.
Sunder's exit comes soon after Mukesh Bansal, head of commerce at Flipkart and cofounder of Myntra, announced his plans to leave the firm.
Amazon has hired former Citibanker Sriraman Jagannathan to lead its payments business, according to two people privy to the development.
As Flipkart goes into overdrive to improve online experience, it is also looking to leverage newer technologies such as big data and machine learning.
The deal values three-year old Juspay at over Rs 200 crore. Accel has picked up about 20% stake in the company.
Investors tiring of consumer-focused online marketplaces bleeding on discounts have zeroed in on enterprise-focused online marketplaces.
Ride-hailing app Uber plans to launch its own digital wallet in India, the first market where the San Francisco-based company is making such a move.
IFC is looking to invest up to $25 million or Rs 170 crore in Lenskart Solutions according to a disclosure on the firm’s website.
Xpressbees’ busy raising funds, bags Rs 85 crore for SAIF Partners, IDG Ventures, NEA, Vertex, Valiant Capital
The funding will be used to upgrade Xpressbees’ technology and expand its operations, said Amitava Saha, the company’s CEO.
He declined to disclose any numbers, and the company had not even formally announced its financing rounds from Sequoia and DST Global, so far.
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