{"id":216810,"date":"2025-01-16T15:37:25","date_gmt":"2025-01-16T15:37:25","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/16\/amazon-to-acquire-fintech-startup-axio-for-about-160-million-times-of-india\/"},"modified":"2025-01-16T15:37:25","modified_gmt":"2025-01-16T15:37:25","slug":"amazon-to-acquire-fintech-startup-axio-for-about-160-million-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/16\/amazon-to-acquire-fintech-startup-axio-for-about-160-million-times-of-india\/","title":{"rendered":"Amazon to acquire fintech startup Axio for about $160 million – Times of India"},"content":{"rendered":"
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BENGALURU: E-commerce giant Amazon has entered into an agreement to acquire Axio, a Bengaluru-based digital lending startup formerly known as Capital Float, as part of its strategy to enhance its financial service offerings in India.
Axio, founded in 2013, allows individuals to avail of pay-later or a credit offering at multiple terminals, Amazon being the largest such.<\/p>\n

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Saif Ali Khan Health Update<\/h2>\n<\/div>\n

It operates with a non-banking finance company (NBFC) license, offering loans through its own books and also co-lending partnerships with banks and other NBFCs.
Sources told TOI that the deal value is currently pegged at an enterprise value of $150-160 million, and is subject to changes. \u201cThe cash-out is tied against several milestones that Axio is expected to meet at intervals,\u201d one of the sources said.
Axio declined to comment on the deal structure. In a blog post earlier on Wednesday, the company said that the deal\u2019s due diligence was complete as of December. \u201cThe transaction will now await the required regulatory approvals,\u201d it said.
A spokesperson from Amazon told TOI that Axio has filed an application with the Reserve Bank of India for a change in control to Amazon and is awaiting approval.
The latest move builds upon a six-year business and equity partnership between Amazon and Axio, focusing on providing accessible and affordable credit to customers across India.
Axio said it serves over 10 million customers to date, with an assets under management of Rs 2,200 crore and a gross non-performing assets (GNPA) ratio of 3%.
This acquisition aligns with Amazon’s broader strategy to expand its presence in India’s financial services sector, aiming to reach more underserved customers and diversify offerings. It gives it better control in balancing customer experience, risk management.
Axio company, founded by Sashank Rishyasringa and Gaurav Hinduja, has raised $20 million in an equity funding round from Amazon Smbhav Venture Fund in August last year to scale lending operations and expand use cases for checkout finance and introduce more credit products among other purposes.
Prior to the latest round, Axio had raised over $130 million in equity and over $670 million in debt. Its other investors include Lightrock India, Peak XV Partners, Elevation Capital and Ribbit Capital.<\/div>\n