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Amazon acquires fintech platform Axio in USD 200 mn deal
With this acquisition, Amazon gains access to a non-banking finance company (NBFC) license in India — a key regulatory requirement for operating a full-stack financial services business in the country.
In January this year, Axio had announced that it had signed a definitive agreement for the transaction in December 2024.
American tech giant Amazon has completed its acquisition of fintech platform Axio, with the deal valued at approximately USD 200 million, according to a report by The Economic Times.
With this acquisition, Amazon gains access to a non-banking finance company (NBFC) license in India — a key regulatory requirement for operating a full-stack financial services business in the country.
In January this year, Axio had announced that it had signed a definitive agreement for the transaction in December 2024.
Axio’s existing investors — including Peak XV Partners, Ribbit Capital, Lightrock, and Elevation Capital — will fully exit as part of the deal. Despite the acquisition, Axio will continue to operate independently and maintain an arm’s-length relationship with Amazon.
The report also noted that Axio plans to deepen its pay-later and checkout finance offerings on Amazon’s platform. In addition, it aims to onboard more merchants to expand these options into other categories such as food delivery. Looking ahead, Axio is expected to develop a broader suite of consumer lending and personal loan products, with the eventual goal of extending credit to small businesses as well.
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