Amazon's Axio acquisition gets RBI nod: Deal valued at $200 million
Amazon has officially snapped up Bangalore-based fintech Axio (formerly Capital Float) in a deal valued at about $200 million, according to sources, with the Reserve Bank of India giving the green light.
This move hands Amazon a non-banking finance license—basically, a big step to level up its digital credit game in India.
Axio's lending services and Amazon's full ownership
Axio offers lending and Buy Now, Pay Later services to around 10 million customers and manages assets worth around ₹2,200 crore. With a low bad loan rate (1.8%), it's been doing well.
After this deal, early investors like Peak XV Partners have exited, and Amazon now owns the whole show—after first investing $20 million in Axio in August 2024.
Amazon aims to leverage its platform for Axio's growth
This gives Amazon more muscle to offer credit on its platform and even branch into things like food delivery.
The plan is to help Axio reach another 100 million users by tapping into Amazon's resources—all while letting Axio keep running under its founding team but now as part of the larger Amazon family.