Amazon confirmed on Tuesday that it has closed its acquisition of fintech lender Axio (formerly Capital Float), after receiving regulatory approval from the Reserve Bank of India.
Amazon will fold Axio into its India operations as a wholly owned subsidiary, the company said, while allowing the fintech company to keep independent management and governance.
As per an ET report, the deal was valued at roughly $200 Mn (INR 1,762 Cr), making it one of Amazon’s larger deals in India.
The deal brings Amazon direct access to an NBFC licence and a ready-made digital-lending platform the e-commerce giant plans to scale across checkout finance, consumer lending and small-business credit.
Deal Details & Regulatory Sign-Off
Amazon said it secured the necessary RBI approvals that clear the way for Axio to operate as a 100% Amazon-owned entity.
The exact purchase price was not officially disclosed; people familiar with the transaction told media outlets the value was about $200 million. Earlier Amazon investments in the company, via its Smbhav venture fund, totalled roughly $40 million before the buyout.
With Axio under its umbrella, Amazon plans to deepen buy now, pay later offerings on its marketplace and extend checkout financing to more merchants and categories, including food delivery, company executives said. The acquisition also positions Amazon Pay to offer a broader suite of consumer loans and, over time, credit products to micro, small and medium enterprises.
Operations, Scale & Leadership
Axio co-founders Sashank Rishyasringa and Gaurav Hinduja will continue to run the business, the companies said, operating at arm’s length from Amazon.
Axio currently reports about 10 million customers and assets under management of roughly Rs 2,200 crore (around $270–300 million), with gross non-performing assets near 1.8%. The lender’s book is concentrated in checkout finance and personal loans, and Amazon has committed additional capital to grow the business responsibly.
Existing backers, including Peak XV Partners, Elevation Capital and Lightrock, are expected to exit as part of the acquisition. Axio had raised about $206 million since inception, according to startup capital-data platforms, and was valued significantly higher in earlier funding rounds before market corrections and stress in unsecured-loan portfolios.
Sector Context
The acquisition comes amid a wider consolidation in India’s digital-lending sector following tighter RBI scrutiny of unsecured consumer credit. Several BNPL and neo-lending firms have either shut operations, been acquired or pivoted product mixes after loan-quality and compliance pressures rose in recent years.
Amazon will integrate Axio’s checkout-finance capability across its ecosystem while the lender expands product lines and merchant partnerships. The company has signalled an eventual aim to broaden lending to small businesses once scale and underwriting controls are further strengthened.
The deal accelerates Amazon’s push to build a full-stack financial-services capability in India, combining payments, lending and commerce, and gives it an NBFC foothold through a local fintech with established distribution and underwriting experience. How quickly Amazon translates those assets into expanded consumer and merchant credit will determine the acquisition’s long-term impact.
