Super.money, a financial service platform that was spun by last year by Walmart-owned Flipkart, has quietly collaborated with the paying infrastructure company Juspay as it is expanded to Consumer (D2C) checkout and targets $ 100 million in annual revenue by 2026.
The partnership comes as Juspay works to rebuild Momentum after being exposed to pushback from major payment companies earlier this year – a dispute that complicated its fundraising efforts.
Last week, Super.Money launched his D2C checkout product, Super.money Breeze, which promises merchants a one-click-cash experience and aims to speed up online purchases by removing disposable passwords and repeated login. The company revealed no technology partners, but TechCrunch has learned that Juspay is driving the paying infrastructure for Super.Money’s latest offer.
The move could help Super.Money reach new customers and build visibility among D2C brands – to expand its presence beyond Flipkart’s existing user base and make the brand more known for online shoppers. While Super.Money is already taking advantage of Flipkart’s distribution, the box signales the product an effort to establish an independent identity in the wider e-commerce ecosystem.
The partnership is even more significant for Juspay, who has worked to regain the land with Indian merchants. The Softbank-backed company lost a number of them after payment gateways, including Razorpay and CashFree payments, moved away from Juspay in January and urged merchants to adopt their internal payment treatment tools instead. The fall affected Juspay’s collection efforts, with its latest round, which came in at $ 60 million, down from previous expectations of about $ 100 million, people who are familiar with the case told TechCrunch.
Juspay was once a preferred back-end partner for payment units, which helped them reduce transaction errors through his payment route platform. The company counts Amazon as a prolonged client and received a payment unit license from the Reserve Bank of India last year. But when competition is intensified in India’s digital payment room, players like Razorpay, Cashfree and Flipkart Spinoff Phonepe have begun to limit their own dependence on third -party providers and instead choose to elaborate on their direct relationship with merchants.
Super.Money’s decision to collaborate with Juspay contradicts a broader tendency for payment players who build and control their own infrastructure. But for a young fintech who still expands its reach beyond Flipkart, the move offers a shortcut to D2C integrations without having to build full-term payment options from scratch. It also signalizes Super.Money’s intention to go deeper into consumer transactions and increase payments through its platform.
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Launched as a payment app in June 2024, more than a year after Flipkart was formally separated from Phonepe, has since become one of India’s top five UPI (Unified Payments Interface) apps after transaction volume. UPI is India’s government -backed immediate payment system. The app processed over 200 million transactions per Month for four consecutive months to and including August, per Data from the National Payments Corporation of India, the federal body that manages 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 the UPI locations -a significant feat for a newly launched app.
Super.money has also become a top issuer of secured credit cards in India and has a 10% market share, according to industry insight, shared with Techcrunch by a person familiar with the data. These cards require customers to make a deposit and are currently being issued in partnership with Utkarsh Small Finance Bank. The company is looking to expand the company and is in conversations with a private sector lender for scale distribution, says a source of TechCrunch.
So far, Super.Money has issued about 300,000 secured cards and adds about 50,000 new cards each month, the person added.
The secured map business is central to Super.Money’s revenue strategy, which helps it move users from low margin payments to income -creating financial products. While the company does not charge for UPI transactions, it uses this volume to board customers and cross-selects with higher dividends, such as credit cards and consumer loans.
Unlike many other upi-focused fintechs, Super.Money has kept its combustion speed low by relying on Flipkart’s distribution rather than heavy marketing. The company also operates with a lean team of about 130 to 150 people to operate its user base of over 80 million users, TechCrunch has learned.
For Flipkart, Super.Money marks a renewed push in fintech after it formally spun Phonepe out in 2023. While Phonepe continued to dominate India’s Upi landscape, it now works independently under Walmart’s wider umbrella. Super.money, on the other hand, remains tightly integrated with flipkart and seems to be focused on making money on financial services directly within the intervention and further-E trading ecosystem.
So far, Flipkart has invested $ 50 million in Super.poney to start his business, led by Prakash Sikaria, previously Flipkart’s Chief Experience Officer for Customer Growth, Marketing, Ads and New Initiatives, and who also founded Shopsy. Sikaria also helped Flipkart to acquire online travel company CLEANTTRIP and LED products such as Flipkart ads and supercoins, per. His LinkedIn page.
Super.Money, however, is looking to go beyond flipkart and raise an external round. The company is already in conversations with bankers and aims to raise the round to about $ 1 billion valuation sometime next year, says sources of TechCrunch.
Super.Money is currently on its way to closing 2025 with about $ 30 million in annual recurring revenue learned TechCrunch. The company is aiming for more than triple this figure in 2026, largely driven by growth in its secured credit card business and personal loans, as well as through movements such as the recently launched D2C -Checkout product.
That said, Super.Money is currently in its early stages of monetization and is likely to have intensified competition from established players such as Phonepe, Google Pay and Razorpay – all of which build or defend their own payments – infrastructure. Its ability to convert upi -scale to sustainable revenue, especially through lending and cash infrastructure, will determine if it could become Flipkart’s other major fintech success – or face the same ecosystem pressure that is currently weighing its partner, Juspay.
Flipkart, Sikaria and Juspay co -founder and CEO ViMal Kumar did not respond to requests for comment.