Fri Jan 17 20:20:00 UTC 2025: ## Amazon to Acquire Indian Fintech Startup Axio in Undisclosed Deal

**Bengaluru, India –** E-commerce giant Amazon is poised to acquire Indian online lending platform Axio, pending regulatory approvals. The deal, announced by Axio in a blog post, follows a successful due diligence process and builds upon Amazon’s existing 8% stake in the company, initially secured during Axio’s Series C funding round six years ago.

While financial terms remain confidential, Axio—previously known as Capital Float—boasts a valuation of approximately $201 million, having raised $137 million in equity and $671 million in debt. The company, which serves over 10 million customers, reported a 50% revenue surge in FY24, reaching ₹351 crore, alongside a significant reduction in losses.

Axio specializes in point-of-sale financing, primarily lending to individuals on various e-commerce platforms, including Amazon. This acquisition strengthens Amazon’s presence in the burgeoning Indian consumer finance market, where it already collaborates with Axio. The startup’s success contrasts with that of competitor ZestMoney, which was acquired in a fire sale earlier this year.

Axio’s strong performance, with ₹2,200 crore in assets under management and a 3% gross non-performing asset ratio, made it an attractive target. Key investors in Axio include Peak XV, Ribbit Capital, Lightrock, and Elevation Capital. The acquisition highlights Amazon’s strategic investment in the Indian fintech sector and its ambition to expand its financial services offerings. The deal is expected to close upon receiving necessary regulatory clearances. Separate to this deal, food delivery giant Zomato has further invested in its quick commerce arm, Blinkit, signaling continued investment in the Indian market despite competitive pressures.

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