More than a year ago, when we unpacked Flipkart’s fintech ambitions, we never expected this new vertical to become the focal point for Flipkart. But now, with an NBFC licence, the ecommerce giant is about to enter a new era.

This is not just about enabling loans for its marketplace users (consumers and sellers) as an RBI-regulated lender – Flipkart can lend to other digital lending apps too. It’s the first ecommerce marketplace in India to go this way, and its entry could open up an NBFC rush where more and more platforms look to take charge of their lending stack.

Let’s see why, but after a look at the key stories from our newsroom this week:

• The 10-Year Grind: Porter was among the first movers in the hyperlocal logistics tech wave, and now, the startup is banking on the last-mile logistics boom fuelled by quick commerce after entering the unicorn club.
• Amazon Prime Video’s Ad Spin: Amazon Prime Video’s non-skippable ads are coming to India from June 17, but is it actually good value for brands eyeing this new digital real estate?
• Battery Smart’s Playbook: In the EV battery swapping market, led largely by gig workers serving quick commerce and commerce platforms on two and three-wheelers, Battery Smart has a 70% market share. How did the company conquer this market?

The NBFC Edge

Flipkart’s NBFC plans have been in the works for several years now. The company approached the central bank for a licence in 2022, and it took nearly three years for approval. Incidentally, Flipkart separated from PhonePe in 2022 and this was likely necessitated by its NBFC application.

Insiders say that while there is a lot of excitement around the lending operations, the business can only commence after Flipkart goes through the compliance rigmarole. Firstly, it has to separate itself from the main corporate office and its key personnel, as this is an RBI-regulated entity.

When it does become operational, the NBFC will start........

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