Companie

Amazon Pay (India) raises ₹1,000 crore from parent holding companies

Forum Gandhi Mumbai | Updated on November 08, 2021

In September and May of this year, the company raised a collective ₹675 crore, majorly from Amazon Singapore

Amazon Pay (India) Private Limited has raised ₹1,000 crore from Amazon Corporate Holdings Private Limited, Singapore, and Amazon.com Inc Limited, Mauritius. This is the third time that the company raised monies from its parent holding companies.

According to financial data accessed by business intelligence platform Tofler, the company received the funding in exchange for equity shares with a significant share going to Amazon Singapore for ₹999 crore.

In September and May of this year, the company raised ₹450 crore and ₹225 crore respectively. Both times, the bulk of the funding was from Amazon Singapore.

Since 2013, Amazon 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.

Published on November 08, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

You May Also Like