Amazon Pay Funding, Investors & Competitors

Amazon Pay has raised $686M across 11 funding rounds, most recently a $72M strategic investment round in June 2024.

Last Amazon Pay funding round

$72M

Strategic investment · Jun 2024

Cumulative funding Amazon Pay raised

$686M

across 11 funding rounds

Key investors in Amazon Pay

  • Amazon
  • Amazon Corporate Holdings

Amazon Pay Overview

About Amazon Pay

Amazon Pay is a Seattle-headquartered digital wallet leveraging Amazon account data for seamless transactions. The service facilitates one-click purchases for merchants on websites and apps, supporting credit cards, debit, and bank accounts. Available in the U.S., Europe, and India, it integrates with Prime for rewards and handles subscriptions and gift cards.


Founded

2007

HQ

United StatesSeattle, WA

Status

Privately held

Customer focus

B2B & B2C

Revenue model

Commission

Amazon Pay Funding History

Amazon Pay has raised a total of $686M across 11 funding rounds.

Amazon Pay's first fundraising round was a $20M strategic investment round in May 2017. The most recent completed round was a $72M strategic investment round in June 2024.

Amazon Pay funding rounds

Amazon Pay funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2024Strategic investmentAmazon (lead)$72M-
Sep 2021Strategic investmentAmazon Corporate Holdings (lead); Amazon$61M-
Mar 2021Strategic investmentAmazon Corporate Holdings (lead); Amazon$31M-
Oct 2020Strategic investmentAmazon (lead)$95M-
Jan 2020Strategic investmentAmazon (lead)$189M-
Jan 2019Strategic investmentAmazon (lead)$42M-
Nov 2018Strategic investmentAmazon (lead)$31M-
Oct 2018Strategic investmentAmazon (lead); Amazon Corporate Holdings$80M-
Jul 2018Strategic investmentAmazon (lead); Amazon Corporate Holdings (lead)$34M-
Mar 2018Strategic investmentAmazon (lead); Amazon Corporate Holdings (lead)$30MAmazon Pay India, the digital payments arm of Amazon in India, raised Rs 225 crore ($30.9 million) in June 2018 from parent entities Amazon Corporate Holdings in Singapore (majority at Rs 224.9 crore) and Amazon.com Inc's Limited in Mauritius, marking its first fundraise of the year per regulatory filings. This infusion supported operations amid competition in India's fintech space, including UPI wallet services launched in April 2019, utility payments, and other features like bill payments and gold purchases. The round aligns with Amazon's push in Indian payments, facing rivals like PhonePe, Paytm, and Google Pay, with later FY2019-20 filings showing Rs 1,370 crore revenue (up 64%) but widened losses from marketing spends and COVID impacts on merchant onboarding. Amazon Pay competed aggressively via cashbacks to gain market share in third-party UPI transactions. Broader Amazon financials in 2018 showed strong growth with Q2 net sales at $52.9B (up 39%) and full-year sales at $232.9B (up 31%), but these pertain to the parent company, not Amazon Pay India.
May 2017Strategic investmentAmazon (lead); Amazon Corporate Holdings (lead)$20MAmazon Pay, a digital wallet service from Amazon in India, received investments from Amazon entities including Rs 67 crore ($10.46 million) in May 2017 and an additional Rs 130 crore ($20.17 million) in June through Amazon Corporate Holdings Pvt. Ltd. (Singapore) and Amazon Mauritius. The company subsequently increased its authorized share capital fivefold to Rs 2000 crore from Rs 400 crore to support expansion. Amazon Pay functioned primarily as a wallet for faster refunds, cashbacks, and payments across partner apps and services like AbhiBus, Faasos, Justickets, Haptik, Housejoy, Box8, Byjus, and Café Coffee Day outlets. By August 2017, it began beta testing mobile recharges in India, indicating growth in service offerings amid Amazon's broader commitment to India, with total investment pledges reaching $5 billion by then. Amazon's India operations were highlighted as the fastest-growing marketplace during the Q1 2017 earnings call, with ongoing investments in technology and infrastructure.

Who has invested in Amazon Pay?

2 investors have backed Amazon Pay across its funding rounds, including Amazon and Amazon Corporate Holdings.

Lead investors include Amazon and Amazon Corporate Holdings.


Amazon Pay Investors

Investors in Amazon Pay by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Amazon Pay

Amazon Pay has acquired 1 company to date.

Last acquisition by Amazon Pay was on August 28th 2018. Amazon Pay acquired Tapzo. for $40M.


Latest Acquisitions by Amazon Pay

Tapzo.
Description
Tapzo is a Bangalore-headquartered mobile application consolidating everyday services for Indian users. The platform facilitates cab bookings through partnerships with Ola and Uber, food deliveries via Swiggy and Zomato, prepaid mobile and DTH recharges, postpaid bill payments, news aggregation, viral story sharing, live cricket score updates from sources like Cricbuzz, and daily horoscopes. Launched in 2015 as a rebrand of HelpChat, it delivers these features via dedicated Android and iOS apps available through shortened links. The company maintains additional offices in New Delhi and Mumbai to support its nationwide operations.
HQ CountryIndia
HQ City
New Delhi
Deal Date28 Aug 2018
Valuation$40M
EV/Revenue
EV/EBITDA

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Amazon Pay Competitors

Amazon Pay competitors include listed companies like Block, PayPal and Paymentus, and private ones like Stripe, Ant Group and Rapyd.

Public and private companies comparable to Amazon Pay
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
StripeUnited StatesSan Francisco, CAPrivate$6.9B-$159B23.0x
Ant GroupChinaHangzhouPrivate$25B-$79B3.2x
BlockUnited StatesUnited StatesPublicly listed$24B$2.2B$46B1.6x
PayPalUnited StatesUnited StatesPublicly listed$33B$7.2B$45B1.4x
PaymentusUnited StatesUnited StatesPublicly listed$1.2B$117M$4.6B3.0x
RapydUnited KingdomLondonPrivate$1B-$4.5B4.5x

Amazon Pay Public Comps

Amazon Pay is still privately-owned, but its public comps include Block, PayPal, Adyen, Fiserv, LPL Financial, Global Payments, Kaspi.kz, Paytm, Edenred and BGC Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Block$24B$2.2B1.7x1.6x18.6x9.4x
PayPal$33B$7.2B1.4x1.4x6.6x6.9x
Adyen$3B$1.4B6.5x6.3x13.7x11.9x
Fiserv$21B$8.9B2.5x2.8x6.1x6.4x
LPL Financial$17B$2.2B1.9x1.6x14.8x10.7x
Global Payments$7.7B$3.2B5.4x3.6x13.1x7.8x
Kaspi.kz$9B$3.2B2.0x2.0x5.9x5.3x
Paytm$854M$41M13.8x11.8x288.1x119.6x

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Common questions about Amazon Pay

When was Amazon Pay founded?Amazon Pay was founded in 2007.
Where is Amazon Pay headquartered?Amazon Pay is headquartered in Seattle, WA, United States.
Is Amazon Pay publicly listed?No, Amazon Pay is a private, VC-backed company.
How much funding has Amazon Pay raised?Amazon Pay has raised $686M across 11 funding rounds.
What was Amazon Pay's last funding round?Amazon Pay's last funding round was a $72M strategic investment round in June 2024, led by Amazon.
Who are Amazon Pay's investors?Amazon Pay's investors include Amazon and Amazon Corporate Holdings.
Which companies are comparable to Amazon Pay?Companies comparable to Amazon Pay include Stripe, Ant Group, Block, PayPal, Paymentus and Rapyd.
How many companies has Amazon Pay acquired?Amazon Pay has acquired 1 company, including Tapzo..
What was the largest acquisition by Amazon Pay?The $40M acquisition of Tapzo. in August 2018 is the largest acquisition Amazon Pay has made to date.

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