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Published
Nov 9, 2021
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Amazon Pay India gets Rs 1,000 crore capital infusion from parent company

Published
Nov 9, 2021

Amazon’s payments unit in India, Amazon Pay India has received a capital infusion of Rs 1,000 crore ($134.4 million) from its parent company Amazon Corporate Holdings.
 

Amazon Pay India gets Rs 1,000 crore capital infusion from parent company - Via Amazon


Singapore-based Amazon Corporate Holdings has been allotted Ts 100 crore shares of Rs 10 each. Mauritius-based Amazon.com Inc also made a token investment in the funding round, Amazon Pay India said in a regulatory filing.
 
Amazon will utilise the funds to strengthen its payments business in the country and acquisition of new customers by luring them with cashback and offers.

For the financial year ended March 2021, Amazon Pay India managed to narrow its net loss by 19 percent to Rs 1,516 crore, as against Rs 1,868 crore a year earlier.
 
The company revenue witnessed a 30 percent rise to Rs 1,786 crore, as against Rs 1,370 crore it reported in the previous financial year.
 
Amazon sees huge growth potential in the digital payments space in India and has been continuously investing to compete with its rivals like PhonePe, Google Pay, and Paytm, among others.

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