Super.money, a Financial Services platform launched last year by Walmart Flipkart, has worked quietly with Juspay Payment Company as it extends to direct-consumer checkout (D2C) and targets $ 100 million in annual revenue by 2026.
The partnership comes as Juspay is working to rebuild the momentum after tackling the push of large payment companies earlier this year – a dispute that complicates its efforts to raise funds.
Last week, Super.money started the D2C product, Super.money Breeze, which promises traders a one -click checkout experience and aims to accelerate online purchases by removing passwords and repeated connections. The company has not revealed technological partners, but TechCrunch has learned that Juspay is supplying payment infrastructure for Super.money’s latest offer.
Movement could help the super.money reach new customers and build visibility between D2C brands – expanding its presence beyond the existing Flipkart users and making the brand more familiar with electronic buyers. While super.money is already benefiting from the distribution of Flipkart, the checkout product marks an attempt to create an autonomous identity in the broader e -commerce ecosystem.
Cooperation is even more important for Juspay, who works to recover the ground with Indian traders. The company supported by Softbank lost several of them after Payment Gates, including Razorpay and Cashfree payments, moved away From Juspay in January, urging traders to adopt the internal payment payment tools. Fallout has influenced Juspay’s money -raising efforts, with the most recent round of Comes to $ 60 millionUnder previous expectations of about $ 100 million, people who are familiar with the issue told TechCrunch.
Juspay was once a preferred back-end partner for payrolls, helping them reduce the failures of transactions through the payment platform. The company calculates Amazon as a long -term customer and received a payment battery license from Reserve Bank of India last year. But as competition is intensified in India’s digital payments, players like Razorpay, Cashfree and Flipkart Spinoff Phonepe have begun By limiting their own dependence on third partiesInstead, choosing to deepen their direct relationships with traders.
Super.money’s decision to work with Juspay contradicts a broader trend of players and control of their own infrastructure. But for a young fintech still expands its range beyond Flipkart, the traffic offers a shortcut in D2C integration without having to create full stacking opportunities from scratch. It also marks the intention of Super.money to deepen deeper into consumer transactions and increase payments through its platform.
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It started as a payment application in June 2024, more than a year after the official separated Flipkart by Phonepe, Super.money has since become one of India’s top five UPI (Unified Payments Interface) applications. UPI is an immediate payment system supported by the Indian government. The application processed over 200 million transactions per month for four consecutive months by August, per data From the National Payment Company of India, the federal body managed by the UPI system.
In recent months, Super.money has surpassed large private banks such as Axis Bank and ICICI Bank, as well as Fintech players, including Amazon Pay and Cred, to climb upi – an important achievement for a newly established application.
Super.money has also become a leading issue of secure credit cards in India, holding a 10% market share, according to industry ideas shared with TechCrunch by a person familiar with data. These cards require customers to deposit a deposit and are currently issued in collaboration with UTKARSH SMALL Finance Bank. The company is trying to expand the business and is in talks with a private -lender on the distribution scale, a source at TechCrunch said.
So far, the super.money has issued about 300,000 safe cards and adds about 50,000 new cards each month, the person added.
The secure card business is central to the Super.money revenue strategy, helping to move users from low -marginal UPI payments to income -producing financial products. While the company does not charge for UPI transactions, it uses this volume for customers and higher performance offers, such as credit cards and consumer loans.
Unlike many other UPI-Decused Fintechs, the super.money has maintained the low combustion rate, based on the distribution of Flipkart rather than heavy marketing. The company also operates with a lean team of about 130 to 150 people to serve its users with over 80 million users, TechCrunch has learned.
For Flipkart, Super.money marks a refreshed impulse to Fintech, as it officially rotates the phone in 2023, while the Phonepe continued to dominate India’s landscape, now operates independently under Walmart’s wider umbrella. Super.money, on the other hand, remains closely integrated into Flipkart and appears focused on creating financial services directly-and beyond the e-commerce ecosystem.
So far, flipkart has Invested $ 50 million At Super.money to start his business, led by Prakash Sikaria, who was previously the head of Flipkart’s experience for customer development, marketing, ads and new initiatives and also set up Shopsy. Sikaria also helped Flipkart to obtain online travel company Cleartrip and LED products such as Flipkart and Supercoins ads, LinkedIn Page.
However, the super.money wants to overcome flipkart and create an outer round. The company is already in talks with bankers and aims to increase the round to about $ 1 billion valuation at one time next year, according to sources in TechCrunch.
Super.money is on the right track to close in 2025 with about $ 30 million in annual repetitive revenue, TechCrunch learned. The company aims to exceed this triple amount in 2026, which is largely driven by the increase in insured business and personal credit card lending and personal lending, as well as through moves such as the recently started checkout D2C.
Taking this, Super.money is in the early stages of revenue creation and will probably face intensifying competition from established players such as Phonepe, Google Pay and Razorpay – all who build or defend their own payment infrastructure. Its ability to convert the UPI scale into sustainable revenue, especially through lending and payment infrastructure, will determine whether the second major success of Flipkart’s Fintech can be made – or face the same pressure of the ecosystem that is currently weighing in Juspay’s partner.
Flipkart, Sikaria and Juspay co -founder and CEO Vimal Kumar did not respond to comments.
