Amazon Invests 144 Million in Growth Opportunities

Amazon is investing $144 million in growth opportunities, a significant move that will likely have a ripple effect on the e-commerce giant's future plans.

This investment will help Amazon expand its services and offerings, making it an even more formidable player in the market.

By injecting $144 million into new initiatives, Amazon is signaling its commitment to innovation and growth.

The exact details of how this investment will be allocated are not specified, but it's clear that Amazon is looking to make a big impact.

Explore further: Apple Invests 400 Million

Amazon's investment in Capital Float is part of the startup's Series C round, which has seen a total equity funding of $110 million.

The Series C round is an extension of the initial funding, with Capital Float raising around $45 million in August last year.

Capital Float has already raised about $130 million in debt from leading banks and NBFCs, bringing its total funding to $240 million.

Take a look at this: What Are Capital Investments

Amazon's investment of Rs 144 crore is a significant addition to the startup's funding, and it will be used to add new lending categories, develop new technological capabilities, and grow its loan book.

The funds will also be used to improve the digital user experience and for the ease of applying for loans, as well as continued investments in the credit assessment algorithm.

Capital Float's loan book has already grown significantly, with an outstanding loan portfolio of over $170 million and a default rate of about 2 percent.

The company has 50,000 customers across 300 cities in India, and it disburses over 10,000 loans each month.

With the fresh funding, Capital Float plans to add 300,000 new clients and generate around ₹5,000 crores in loan disbursals in FY 2019.

A fresh viewpoint: Walmart to Introduce Real-time Bank Payments for Online Purchases

Amazon has infused Rs 144 Cr into Capital Float in an extended Series C round.

This investment amount is a significant addition to the $110 million in equity funding Capital Float has received from Amazon and other existing investors.

The latest round is an extension of the Series C round, which was initially raised in August last year.

Capital Float has also raised around $130 million in debt from leading banks and NBFCs.

Check this out: Gov. Hochul Invests $10 Million in Science of Reading Training