India-based consumer finance start-up Axio has unveiled it has signed an agreement to be acquired by online retailing giant Amazon.Axio set to be acquired by AmazonAs revealed in a statement by Axio, the deal, which the company says was signed in December after the “successful completion of due diligence”, follows a six-year equity partnership between the fintech and Amazon.Axio adds that the proposed acquisition “will now await the required regulatory approvals”.While the companies have not disclosed the financial details of the acquisition, TechCrunch reports that the value of the deal exceeds $150 million, citing sources familiar with the matter.Axio says the deal will enable the company to reach more “under-served customers”, diversify its offerings, and continue to “strike the right balance of customer experience, risk management, and affordability as we strive to responsibly expand access to credit across the country”.Founded in 2013 and headquartered in Bengaluru, Axio offers customers buy now, pay later (BNPL), expense management, and personal loan services. It also offers e-commerce merchants solutions to integrate pay later options directly into online checkouts.Last August, Amazon invested $20 million in Axio through its Amazon Smbhav Venture Fund. At the time, Axio co-founders Sashank Rishyasringa and Gaurav Hinduja said the financing would enable the firm to “further scale our loan book, enhance our checkout finance offering, and expand credit offerings to existing customers”.
Sab. Gen 18th, 2025
