Less than six months after e-commerce company Flipkart raised $1 billion, the online marketplace is rounding off the year with a new $700 million round, reports the Economic Times.

The round includes money from existing investors DST Global, GIC, ICONIQ Capital and Tiger Global, and new backers Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associate and Qatar Investment Authority.

This round takes Flipkart past $2 billion in investor money in 2014, and to around $2.7 billion in total.

The e-commerce company also disclosed that it has applied to become a public company in Singapore, where it is registered. It stressed that this filing is in line with the law since it now has over 50 shareholders and that it “is in no way indicative of any upcoming IPO,” but it does raise the question of what (and when) its exit will be.
Flipkart has over 14,000 staff and reportedly sees more than 6 million monthly visits from 26 million-plus registered users. It said the new funding will be spent on “long-term strategic investments in India” and on developing its technology and customer service. 

This year it also acquired fashion-focused rival Myntra, in a bid to guild its competitive edge against fierce rivals Amazon India and Snapdeal.

This year, in addition to investing $2 billion in its local operations, Amazon India snapped up a number of exclusive sales deals including Chinese phone company OnePlus. Rival Snapdeal, which counts eBay as a shareholder, raised its own mega round this year when SoftBank led a $627 million round that closed in October.