Business EconomyPosted at: Sep 4 2025 8:04PM


Amazon buys fintech lending platform Axio in deal valued at USD 200 million

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. UNI XC AKT
Please log in to get detailed story.
Tags: #Amazon buys fintech lending platform Axio in deal valued at USD 200 million
More News

APEDA Facilitates First-Ever Export of Jharkhand Mangoes to UK, Boosting Women Farmers

07 Jun 2026 | 4:44 PM

New Delhi, June 7 (UNI) In a milestone for Jharkhand’s horticulture sector, the Agricultural and Processed Food Products Export Development Authority (APEDA) has facilitated the first commercial export of fresh mangoes from the state to the United Kingdom, opening new international market opportunities for local farmers and women-led producer groups.

see more..

Indian households buy cooking gas much cheaper than neighbouring countries, advanced economies: Petroleum Ministry

07 Jun 2026 | 4:14 PM

New Delhi, Jun 7 (UNI) Indian households continue to purchase cooking gas at prices significantly lower than those paid by households in neighbouring countries and far below those in advanced economies such as the United States, Australia, and Canada, the Ministry of Petroleum said on Sunday.

see more..

Market valuation of 7 of top-10 most-valued firms erode by Rs 1 25 tn

07 Jun 2026 | 3:36 PM

New Delhi, June 7 (UNI) The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 1.25 trillion in a week with the Reliance Industries took the biggest hit.

see more..

India's electronics manufacturing at inflection point amid import dependence, rising demand and policy interventions

07 Jun 2026 | 3:33 PM

Sourav Shekhar
New Delhi, Jun 7 (UNI) India's consumer electronics manufacturing sector is entering a critical phase of growth as rising domestic demand, government-backed manufacturing initiatives and stable monetary policy create new opportunities, even as the industry remains vulnerable to global supply-chain disruptions and import dependence.

see more..

Reliance Infrastructure urge SEBI, market exchanges to review ASM framework linked to insolvency

07 Jun 2026 | 3:15 PM

New Delhi, June 7 (UNI) Reliance Infrastructure has urged Securities and Exchange Board of India (SEBI) and the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) to review the Additional Surveillance Measure (ASM) framework linked to insolvency proceedings, citing their adverse impact on its more than 7 lakh public shareholders, and emphasizing the need to ensure that market mechanisms continue to facilitate fair price discovery and maintain investor confidence.

see more..