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📍 Mumbai, India — Amazon announced on Thursday that it has completed the acquisition of Bengaluru-based non-banking financial company Axio, marking a significant expansion of its fintech footprint in India. The deal, approved by the Reserve Bank of India in June, was finalized for an undisclosed amount.
Axio, formerly known as Capital Float, specializes in digital credit solutions for consumers and small businesses. With this acquisition, Amazon gains a direct lending license, allowing it to offer credit products such as checkout loans and pay-later options without relying on third-party financial institutions.
The move builds on a six-year partnership between the two companies, during which Axio helped power Amazon Pay Later services for over 10 million customers. Axio will continue operating as a separate entity under Amazon’s ownership, maintaining its leadership team and expanding its reach.
Amazon executives described the acquisition as a strategic step toward improving credit access across India, particularly for underserved segments. The company plans to develop new lending products tailored to both individual consumers and small enterprises.
The deal positions Amazon to compete more directly with rivals like Flipkart, which also holds a non-banking financial license through its subsidiary. Axio’s existing loan book stood at ₹22 billion ($251 million) as of June 2025.
