BANGALORE, India—Flipkart Internet Pvt. has raised $550 million from some of its existing investors, in a deal that raises the valuation of the privately-held Indian startup to about $15 billion, a person familiar with the deal said.
The latest round of funding in India’s largest e-commerce company by sales was led by U.S.-based Tiger Global Management, which is one of its biggest investors, the person, who declined to be named, told The Wall Street Journal late Monday. The funding was received last month, the person added.
A Flipkart spokeswoman declined to comment.
The funding catapults Flipkart to the third position among the most valuable privately-held startup companies in the world, alongside U.S.-based data-mining company Palantir Technologies and messaging platform Snapchat Inc., according to a WSJ/VentureSource analysis.
Bangalore-based Flipkart had last raised $700 million in December, which ranked it as the fifth most valuable startup in the world at $11 billion.