Amazon has acquired Axio, formerly Capital Float, a digital lending and checkout finance provider in India.
After regulatory approval from the Reserve Bank of India (RBI), Amazon decided to strengthen its goal to offer innovative credit experiences in the region by making its largest acquisition in the country. The deal unifies Amazon’s reach with Axio’s solutions to expand credit and lending access across India.
More about the deal
The news was first announced back in January as the ecommerce giant finalised the acquisition deal in December 2024. While the financial terms of the transaction remained undisclosed, sources familiar with the matter informed TechCrunch that the deal is valued at over USD 150 million. It’s worth noting that the acquisition still required approval from India’s central bank back then.
The acquisition follows a six-year partnership during which Axio enabled BNPL services for Amazon Pay, serving over 10 million customers in India. With one in six shoppers having access to checkout financing, growing access to credit is key for Amazon. The acquisition will allow the giant to unlock credit for its customers, leveraging Axio’s digital lending expertise, combined with Amazon’s global reach, technology, and bank relationships, to expand responsible lending to millions of SMEs and customers.
Axio will continue to operate under its current leadership while integrating more as a subsidiary of Amazon. The union will allow the company to accelerate its goal to expand its operations and access to credit. Leveraging Amazon’s reach, customer centricity, and balance sheet depth, Axio will build its product portfolio and existing partnerships to improve digital lending.
The deal optimises Amazon’s ability to offer developments across India, unifying Axio’s expertise with Amazon Pay Later to make purchases more accessible and affordable. The investment reflects its commitment to India’s digital development, expanding credit access to underserved communities through simple and transparent products.
