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Amazon enters India’s digital lending market with Axio acquisition
Amazon has acquired Axio (formerly Capital Float), entering India’s digital lending space. The move expands Amazon Pay’s BNPL and credit offerings, serving 10M+ users while retaining Axio’s leadership team.
The acquisition is seen as a step toward addressing the limited penetration of checkout financing in India, giving Amazon scale to expand its financial services footprint.
Amazon has officially entered India’s digital lending space, completing the acquisition of Axio, formerly Capital Float, a digital lending and checkout finance provider, CNBC TV-18 reported. The deal, cleared by the Reserve Bank of India, is considered one of Amazon’s larger transactions in the country.
Axio, which has powered Amazon Pay’s Buy Now Pay Later (BNPL) services for over six years, will now operate as an Amazon subsidiary while retaining its current leadership team. The move is expected to broaden access to credit for both consumers and small businesses, enhancing checkout finance offerings across the Amazon ecosystem.
With a customer base exceeding 10 million users, Axio brings not only consumer lending capabilities but also personal finance management tools and credit products. The acquisition is seen as a step toward addressing the limited penetration of checkout financing in India, giving Amazon scale to expand its financial services footprint.
Axio’s founders highlighted that the partnership with Amazon provides the company with resources and reach to grow lending services nationwide, while Amazon positions itself to become a significant player in India’s fintech landscape.
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The leaders highlighted how AI is emerging as a critical enabler in this shift from marketing’s traditional focus on new customers to a more sustainable model of driving growth from existing accounts.
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