India-based Flipkart has obtained almost $2.5 billion in funding from Japanese telecom giant SoftBank Group Corp.'s (SFTBF) Vision Fund, the investment fund founded by its chairman and billionaire Masayoshi Son.
The Vision Fund will finalize a $2.5 billion investment into the Indian e-commerce giant via primary and secondary share purchases, according to Reuters.
FlipKart will now have over $4 billion in cash, after receiving investments from Chinese Internet giant Tencent (TCTZF) , eBay (EBAY) - Get Report , and Microsoft (MSFT) - Get Report earlier this year.
The recent investment will make SoftBank's tech fund one of Flipkart's top shareholders.
Watch More with TheStreet:
- Who Holds the Biggest Share of Snap?
- Who is the French Billionaire Making a Play for Charter Communications?
- It's Not Just North Korea, This is a Stronger Time for Gold
- Which Cryptocurrency Will Last?