Tata group mulls pumping $2 billion into super-app Neu: Report

Tata group is likely to pump in $2 billion into its super app Neu, reported bloomberg. The additional fund is to bolster the conglomerate's digital business by widening its digital offerings, improving technicalities and meeting other enhancement requirements.

If the deal materialises, Tata digital is likely to receive the amount over two years. According to Bloomberg, the group has asked Tata digital to look for ways to boost the valuation of the super app. Discussions are still going on and the conglomerate could still change the size and timeline of a deal.

However, neither Tata group nor Tata digital has confirmed the news.

Tata Neu went live in april last year. The super app was modeled on China’s ubiquitous Alipay and WeChat but ran into technical glitches and customer complaints soon after its launch. Tata Neu is expected to meet just half of the sales target in its debut year.