Amazon invests around Rs 4,500 crore in India businesses of Pay, Sellers and Retail
Updated : October 29, 2019 12:28 PM IST
Amazon is investing in fresh capital of Rs 4,472.50 crore (or $630 million) into three of its Indian businesses of Amazon Pay, Amazon Retail and Amazon Sellers, according to Paper.vc, a Bengaluru-based business insights platform.
The largest chunk of investment of Rs 3,400 crore will go into Amazon Seller Services, which runs the marketplace business, and has been the biggest cash guzzler due to deep discounting, promotions and marketing.
Amazon Pay India, which competes with Flipkart’s PhonePe, Paytm, Google Pay, among others will get Rs 900 crore to continue to fund cashbacks, marketing and adding more merchants.