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Amazon infuses ₹1000cr in Amazon Pay
November 09, 2021
Amazon Pay, the digital payments and financial services unit of amazon India, has raised around ₹1000cr from parent firm, according to regulatory filings with Ministry of Corporate Affairs.
Singapore based Amazon Corporate holdings Pvt. Ltd. Has invested around ₹999.90cr in Amazon Pay as part of the fundraise while Amazon.com incs invested another ₹9.99 lakh into the India payments units, according to financial data assessed by business intelligence platform, Tofler.
The filings show that Amazon Corporate Holdings has been allotted 99cr shares, with Amazon.com incs given another 99,920 shares, at a nominal value of ₹10rs per share.
The current fundraise comes just few weeks after Amazon Pay raised by ₹450cr ahead of Diwali season sales, from parent Amazon, as the e-commerce major partnered with Flipkart during the festive season. The funds were raised by same entities.
In September, Mint reported that Amazon Pay had touched 50mn users, leveraging its UPI. According to the company, customers were using the Amazon app to pay at 20mn local shops using the QR code option.
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