Amazon In Talks With Capital Float For Investment In Financial Technology

Online retail giant Amazon is looking to expand its footprint in the financial technology space and is in talks to invest in digital lending startup Capital Float,.

Bengaluru-based Capital Float, which has so far focused on small businesses, is also set to start consumer financing on Amazon’s platform, apart from the ecommerce seller financing it already does. Amazon may invest $5-10 million as an extension of the recent round raised by Capital Float, but this could not be independently confirmed.

If concluded, the deal will add to Amazon India’s portfolio of investments in the fintech space apart from online financial services marketplace BankBazaar and gifting and loyalty points player Qwikcilver, even as it continues to build its consumer-focused payments business under Amazon Pay to take on Alibaba-backed Paytm and Flipkart’s Phonepe

Capital Float had recently raised $45 million (Rs 293 crore) in a Series-C funding round led by Silicon Valley-based Ribbit Capital, with participation from existing investors SAIF Partners, Sequoia India and Creation Investments. As per the company’s recent MCA filings, the company was valued at Rs 836 crore ($125 million) before the fund was raised meaning, the post money valuation would be close to Rs 1,150 crore.