Super.Money, a fintech venture backed by Flipkart, recently introduced a co-branded credit card in partnership with Utkarsh Small Finance Bank. The platform, operated by Scapic Innovations, which Flipkart acquired in 2020, has already launched three financial products: UPI services, personal loans via the Flipkart app, and the superCard—a co-branded Rupay credit card. The recently launched credit card, also dubbed as SuperCard allows users to secure credit cards with limits starting as low as INR 90 by making deposits ranging from INR 100 to INR 10 lakh.
“We will have six products in the market in the coming weeks,” revealed Prakash Sikaria, Founder and CEO of Super.Money, during an interview with Inc42. He further emphasised that Super.Money operates as an independent entity, with Flipkart acting solely as an investor. Sikaria also hinted at external fundraising plans, saying, “This is something we will plan in December.”
Mr. Sikaria also revealed that the company would soon offer Fixed Deposits (FDs) and credit lines via UPI, a feature recently launched by NPCI. The introduction of unsecured credit cards is also on the agenda, aimed at users who typically graduate from secured to unsecured products.
