Zomato-owned quick-commerce platform Blinkit has appointed Vipin Kapooria as its Chief Financial Officer (CFO), according to sources familiar with the matter. Kapooria, who previously served as Vice President of Business Finance at Flipkart, overseeing categories such as mobiles, electronics, and large appliances, brings a wealth of experience to Blinkit. His appointment comes at a crucial time for the company, which has been expanding its operations rapidly following Zomato’s acquisition of Blinkit.
Kapooria’s appointment fills the void left by Amit Sachdeva, Blinkit’s former CFO, who resigned in August 2022. Sachdeva had been in the role during the acquisition, but after his departure, Blinkit has operated without a full-time CFO until now. Kapooria will work closely with Blinkit CEO Albinder Dhindsa and Zomato CFO Akshant Goyal to manage the platform’s financial strategy during a critical phase of growth.
Blinkit’s recent growth has been marked by significant financial moves, including Zomato raising Rs 8,500 crore through a qualified institutional placement (QIP). A major portion of this funding is set to be directed towards Blinkit’s quick-commerce operations. As the market leader in the quick-commerce sector, Blinkit faces intense competition from rivals such as Zepto, backed by Lightspeed, and Swiggy Instamart. To maintain its edge, the company has accelerated its expansion plans and is targeting the operation of 1,000 dark stores (micro warehouses for 10-minute deliveries) by April 2025, with plans to increase that number to 2,000 by December 2026.
Kapooria’s experience spans multiple prominent companies, including Flipkart, Oyo, Yum Restaurants, and Whirlpool India. His expertise in managing finances for large-scale operations will be crucial as Blinkit continues to scale its operations. His appointment also comes in the wake of Zomato’s recent QIP, signaling the company’s commitment to expanding Blinkit’s footprint in the competitive quick-commerce space.
Blinkit has faced challenges in improving its margins, with the company’s adjusted Ebitda loss widening to Rs 8 crore in the July-September quarter, up from Rs 3 crore in the previous quarter. Despite these challenges, the company’s gross sales for the quarter more than doubled to Rs 6,132 crore, highlighting its significant growth potential. Kapooria’s role will be essential in ensuring that Blinkit can manage its finances effectively while continuing its aggressive expansion.
Kapooria’s move from Flipkart, which recently launched its own quick-commerce service, Minutes, is part of a broader trend of senior executives from the e-commerce giant moving to other companies in the space. Notable departures include Amitesh Jha, Flipkart’s Senior Vice President of Category and Marketplace, who joined Swiggy as CEO of Instamart. This shift reflects the growing competition in India’s rapidly evolving quick-commerce market, with Blinkit aiming to retain its leadership position amid mounting pressures.
The appointment of Kapooria underscores Blinkit’s strategic focus on financial management and operational efficiency as it continues its ambitious growth trajectory.
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