E-commerce Entrepreneur Backs New Startup

Preeti Bali / 11:28 am / March 12, 2024

Binny Bansal, the co-founder of leading Indian e-commerce platform Flipkart, has channelled funds into his latest venture, OppDoor. The investment of nearly $2 million came from his personal capital through his venture fund, Three State Ventures. Regulatory filings in Singapore reveal that the funds were dispersed in multiple instalments over the past few months, with the most recent injection occurring in February.

OppDoor focuses on providing software-based services to assist up-and-coming online retail brands in achieving global expansion. Bansal’s investment demonstrates his strong belief in OppDoor’s potential, even though it’s a relatively young company.

Binny Bansal’s Flipkart Cash Flow Drives OppDoor’s Exuberant Hiring Campaign

After stepping down from Flipkart’s board in January, Bansal has been leveraging funds from selling his Flipkart shares to support his entrepreneurial ventures. Reports indicate that OppDoor has been in discussions with former senior Flipkart executives for potential recruitment and has also made new hires in Bangalore.

With Bansal’s support, Singapore-based OppDoor elevates US brands on Amazon

Currently, OppDoor is catering to US-based brands on Amazon that are looking to grow internationally by offering them e-commerce business solutions. Despite relocating to Singapore after leaving Flipkart in 2018, Bansal stays actively engaged in the Indian startup scene.

Late last year, Bansal sold off his remaining Flipkart shares, reportedly netting him around $650 million. He has a history of making significant investments in startups, including Curefoods, PhonePe, and Acko.

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