Mumbai, Sep 4 (UNI) American online shopping Amazon today officially stated that it has acquired fintech lending platform Axio, in a deal valued at approximately USD 200 million.
Axio had announced in January 2025 that it had signed a definitive agreement for the transaction in December 2024. The acquisition has enabled Amazon to obtain a non-banking finance company (NBFC) license from the RBI, a key regulatory requirement for operating a full-stack financial services business in India, according to the statement.
According to the statement, Axio plans to deepen its pay-later and checkout finance offerings on Amazon’s platform. It also 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.
“With only 1 in 6 Indian customers having access to checkout financing, growing access to credit is a fundamental priority for Amazon,” Amazon Payments Vice President Mahendra Nerurkar said.
“Over the past six years, our partnership with Axio has enabled us to unlock credit for more than 10 million customers. Axio’s digital lending expertise combined with Amazon’s reach, technology know-how, and bank relationships will help us expand responsible lending to millions more customers and small businesses in the coming years,” Nerurkar said.
Axio will continue to operate under its current leadership team while integrating as a subsidiary of Amazon.
Axio’s co-founders, Sashank Rishyasringa and Gaurav Hinduja, said the Amazon deal would help the company expand credit access and scale digital lending to the next 100 million Indians.
After Amazon’s acquisition, 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, according to the statement.
