Flipkart-backed super.money acquires BharatX to bring BNPL to UPI
With BharatX’s technology, super.money aims to integrate buy now, pay later (BNPL) and installment-based payment solutions directly into UPI transactions.
super.money, the fast-growing UPI payments platform backed by Flipkart, has acquired BharatX, a Y Combinator-funded startup specializing in checkout financing.
With BharatX’s technology, the company aims to integrate buy now, pay later (BNPL) and installment-based payment solutions directly into UPI transactions, simplifying access to credit for millions of users. The company did not disclose the value of the transaction.
“We want to be one of the largest players in checkout financing within the next few quarters,” Prakash Sikaria, CEO and Founder of super.money, told YourStory. “We believe there is a scarcity in the market for flexible credit options, and this acquisition helps us build a sustainable, scalable model.”
The integration of BharatX’s credit technology will initially be deployed across Flipkart’s ecosystem and super.money’s broader merchant network. According to Sikaria, the company is running two parallel workstreams—one focused on Flipkart and another on direct-to-consumer applications—with both expected to go live by the next quarter.
Unlike some of its rivals that operate as non-banking financial companies (NBFCs), super.money intends to function as a technology service provider (TSP), offering a marketplace for credit rather than underwriting loans itself. “We are focused on product innovation in partnership with lenders, rather than taking on underwriting risk directly,” Sikaria said.
This approach could help super.money scale faster while reducing exposure to potential regulatory headwinds affecting digital lending. The fintech firm is partnering with multiple regulated entities, including banks and NBFCs, to facilitate credit distribution.
Beyond credit, super.money is also expanding its footprint in digital savings. In November 2024, the company launched superFD, a fixed deposit product allowing users to book FDs seamlessly via UPI, with interest rates of up to 9.5%. The offering, aimed at younger investors, allows deposits starting from Rs 1,000 and is backed by partnerships with RBI-approved small finance banks.
Future growth plans
super.money, which launched in August, has rapidly scaled to become one of India's top UPI platforms. By leveraging cashback incentives, it has swiftly gained market share, ranking seventh among UPI apps with 124.83 million transactions worth Rs 4,565.57 crore processed in January.
Despite rapid user acquisition, super.money has no plans to scale back incentives such as cashbacks, which have been key to its growth strategy. “Strategically, we are not pulling back on any customer incentives at this point,” Sikaria confirmed. “We will only accelerate from here.”
As the company scales, it is also exploring new financial products, including wealth advisory services. “We are actively looking at how we can unlock newer products for younger, affluent Indians,” Sikaria said, hinting at a possible expansion beyond payments and credit in the future.
Edited by Jyoti Narayan