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Deepti Sri · · 1 min readReport: Amazon Pay nets $30m in fresh funding from parent firm
“Amazon Pay India, the online payment business of ecommerce giant Amazon, has received fresh funding of US$30 million,” Business Line reported.
Details:
- The money was raised from Amazon Corporate Holdings in Singapore and Amazon.com in Mauritius for the payment service’s infrastructure development in India.
- Amazon plans to set up 10 new fulfillment centers, five new sortation centers, 200 delivery stations, and over 100,000 seasonal jobs to meet customer demand.
Context:
- In October 2020, Amazon Pay India received 7 billion rupees (US$96 million), also from both its parent entity Amazon Corporate Holdings and Amazon.com.
- In a bid to ramp up its position among offline retailers, Amazon also acquired retail tech startup Perpule in March.
Editing by Miguel Cordon and September Grace Mahino
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