New Delhi : Amazon Pay, the payments arm of Amazon India, will acquire Sequoia-backed Tapzo as the e-commerce giant looks to strengthen its play in the country’s growing digital payments space.
According to sources close to the development, the deal values Tapzo at about $35-40 million. They did not wish to be identified as the matters are private.
When contacted, an Amazon spokesperson did not comment on the deal but said: “Our commitment to the vision of a less-cash India remains the same. Our goal is to make it easier than ever before for customers to make digital payments by improving the customer experience, affordability and daily routines”. Response could not be elicited from the Tapzo team. Tapzo has undergone multiple name changes since its launch in 2010 — from Akosha to Helpchat and then finally Tapzo in 2016.