Senior Correspondent, IndianRetailer.com & Retailer Magazine Jul 17, 2018 / 2 MIN READ
Global e-commerce company Amazon has invested an additional Rs 230 crore into its wallet Amazon Pay in India, as per filings with the Registrar of Companies (RoC) sourced from Paper.vc. This comes within a few months of another investment of Rs 195 crore.
The latest funding has been routed through Singapore-based Amazon Corporate Holdings and Mauritius-based Amazon.com.incs. Amazon Corporate was allotted 23 crore shares and Amazon.com.incs 22,977 shares at a face value of Rs 10 per equity share.
The filing said the terms of the funding were compliant with Reserve Bank of India regulations and Foreign Exchange Management Act, 1999. In India, Amazon Pay competes with Paytm, MobiKwik, Flipkart’s PhonePe and Axis Bank’s Freecharge, and with latest round of funds the company might look at increasing its customer base.
According to recent data, brands like boAt, HP, Fireboltt, and Noise have emerged as the top favorites among consumers in Patna for consumer electronics.
This strategic collaboration aims to cater to the growing demand for Blaupunkt's premium and affordable televisions, extending their reach through seamless online retail across 19,000 pin codes in India.
The product lineup includes over 600 shades of Interior/Exterior, Wood and Metal paints, Primers/Undercoats, Paint Sprayers, Multipurpose Lubricants, and Craft supplies.
Amazon is committed to simplifying and enhancing accessibility to exports for businesses of all sizes, working towards the target of enabling $20 billion in cumulative e-commerce exports from India by 2025.
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