Flipkart’s senior vice-president Prakash Sikaria will set up a new business venture within the group and this new business will focus on building a credit marketplace and is likely to look at bringing various consumer financing products to consumers – inside and outside Flipkart.
As per a report from The Economic Times, a leading English daily, Prakash was slated to leave Flipkart to float a startup but now he is staying back with the company.
It has been said that the initiative is likely to be housed under a separate entity where the online retailer will be the majority shareholder and Prakash will own equity as well.
The company has not said anything about this development.
Prakash has been heading Flipkart’s social commerce offering Shopsy and steering its growth charter.
Prakash previously started the ride-sharing platform Sharedcab and weather data firm Cerule Systems – is among the senior-most executives at Flipkart. Just a few months back, he was given additional responsibility after Flipkart merged its customer and marketing departments with growth and monetisation – all of which were headed by the IIT-Kanpur alumnus.
