Super.money, a Flipkart-backed fintech firm, acquired checkout financing platform BharatX on Tuesday in an all-cash transaction, as the company has continued to launch new payment and credit offerings since its inception last year. The transaction value has not been disclosed. The company intends to offer checkout financing for direct-to-consumer (D2C) and e-commerce brands, including Flipkart, starting with consumer durables via a credit line on the Unified Payments Interface (UPI).
"This is primarily a technology acquisition. We want to play this out through equated monthly installments (EMIs) and buy now, pay later (BNPL), primarily for consumer durables. The idea is to bring our depth in UPI and leverage what they have done on checkout financing," said Prakash Sikaria, CEO of Super.money.
According to the company, the core team responsible for developing BharatX will collaborate closely with Super.money to integrate their technology. Sikaria plans to launch the product in the first quarter of fiscal year 2026 (Q1FY26).
Super.money is the sixth largest third-party application provider (TPAP) for UPI. It has introduced fixed deposits (FDs), credit products, and a secure co-branded credit card. Currently, it has over 10 million users. The company intends to launch a secured BNPL offering in the future, a first in the category. BharatX currently offers checkout financing options through partnerships with over 200 brands. The website lists four banking partners.
Sikaria added that his company is in talks with the majority of the brands that BharatX has taken on board. "We have not completed the agreement migrations or our discussions with the brand. However, a significant portion of the D2C pool will emerge as a result of this discussion," he stated.
In terms of banking partnerships, he stated that the firm will seek new partners to expand its offerings. "I believe their terms are very different from how we work with banks and all. So we will operate on our own terms, which will result in a new set of partners. Today, we work with 20-25 partners, so I don't think partnership is something we are concerned about," he added.
BharatX was founded in 2019 and has received $4.75 million in funding to date, according to market intelligence platform Tracxn. Checkout or embedded financing allows customers to buy products from brands in installments at the time of checkout. "The plan is to eventually distribute different types of financial services. We think of BNPLs or EMIs as an introductory product for many of our consumers. It was the first financial services product they took from our stable before moving on to others," he explained.
