Info-tech

Amazon Pay gets fresh funding of ₹225 crore

Forum Gandhi Mumbai May 13 | Updated on May 13, 2021

The funds are likely to be used for infrastructure development

Amazon Pay India Private Limited, the online payment business of e-commerce giant Amazon, has received fresh funding of ₹225 crore.

According to financial data accessed by the business intelligence platform, Tofler, the fresh investment has been made by Amazon Corporate Holdings Private Limited, Singapore and Amazon.com Inc Limited, Mauritius against 22.5 crore equity shares. The significant share has gone to Amazon Singapore which has invested ₹ 224.9 crore.

Last week, Amazon India had raised ₹915 crore from its holding company, Amazon Corporate Holdings Private Limited and Amazon.com.incs Limited Company.

According to documents filed with the Registrar of Companies, on April 23, Amazon Seller Services Pvt. Ltd raised ₹915 crore against 91,49,57,723 shares and 42,277 shares allotted to, Amazon Corporate Holdings Private Limited and Amazon.com.incs Limited Company, respectively. The documents were sourced from Tofler.

Since 2013, Amazon Inc. has committed to invest around $6.5 billion in its Indian operations. In the recent past, Amazon has announced the expansion of its operations network in India. It plans to set up 10 new fulfilment centres, 5 new sortation centres, nearly 200 delivery stations, and over 1 lakh seasonal jobs to help meet customer demand.

According to a source, the funds are likely to be used for its recent commitments in India along with infrastructure development.

Published on May 13, 2021

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