Amazon has completed the acquisition of Axio (formerly Capital Float), one of India’s leading digital lending and checkout finance providers, after securing regulatory approval from the Reserve Bank of India (RBI). The transaction marks one of Amazon’s largest acquisitions in the country and highlights its growing focus on financial services.
The move builds on Amazon’s six-year partnership with Axio, which has powered the Buy Now Pay Later service for Amazon Pay in India. Over this period, the collaboration has already unlocked credit access for more than 10 million customers.
“Growing access to credit is a fundamental priority for Amazon, with only 1 in 6 Indian customers currently having access to checkout financing,” said Mahendra Nerurkar, VP, Payments Amazon. He added that Axio’s lending expertise, combined with Amazon’s reach, technology capabilities and banking partnerships, will enable the company to scale responsible credit access to millions of additional customers and small businesses.
Axio will continue to operate under its current leadership team as a subsidiary of Amazon. Co-founders Sashank Rishyasringa and Gaurav Hinduja called the acquisition a transformative step for the company. “With Amazon’s reach, customer centricity and balance sheet depth, we are well-positioned to take digital lending to the next 100 million Indians – responsibly and at scale,” they said.
The deal is expected to strengthen Amazon Pay Later’s checkout finance and term loan offerings, while also driving innovation in digital credit solutions across India. With a customer base of over 10 million already served by Axio, the acquisition is likely to deepen financial inclusion and extend credit access to underserved markets.
