Amazon has completed its acquisition of Axio, formerly known as Capital Float, a Bengaluru-based non-banking financial company (NBFC) specialising in digital lending and Buy Now Pay Later (BNPL) services. This strategic deal, valued at around $200 million, is among Amazon’s largest investments in India and includes securing a direct lending license from the Reserve Bank of India (RBI) that significantly boosts Amazon’s footprint in Indian fintech.
Axio has served more than 10 million customers nationwide by providing technology-driven credit solutions, including personal loans, merchant lending, and checkout finance products. Previously, Axio powered Amazon Pay’s BNPL offerings during a partnership spanning over six years. The acquisition now enables Amazon to fully integrate digital lending and expand credit access responsibly across new consumer segments and small businesses, especially in underserved regions of India.
The founders of Axio, Sashank Rishyasringa and Gaurav Hinduja, emphasised this acquisition as a major step toward scaling their mission to reach the next 100 million credit consumers in the country. They affirmed the continuity of Axio’s management team under Amazon’s ownership, ensuring seamless integration and innovation in lending capabilities.
Amazon’s Vice President of Payments, Mahendra Nerurkar, highlighted the critical need for expanding credit access in India, where only one in six consumers currently have access to checkout financing. He noted that Axio’s expertise, combined with Amazon’s vast reach, cutting-edge technology, and strengthened banking relationships, will accelerate responsible and inclusive lending.
Also Read: Process Intelligence: The Critical Link in India’s BFSI Evolution
This acquisition signals Amazon’s deepened commitment to India’s evolving digital economy by unlocking new credit opportunities, fostering innovation, and promoting financial inclusion through advanced digital lending platforms. As an Amazon subsidiary, Axio is poised to continue innovating in consumer and merchant credit while enhancing Amazon Pay Later and personal loan offerings across the country.
