Amazon Acquires Indian Fintech Axio for Over $150 Million; Startup Claims 10M+ Customers and $260M+ Loan Book

Amazon has agreed to acquire Bengaluru-based fintech startup Axio, formerly known as Capital Float, as part of its strategy to expand financial services in India. The deal, which was finalized in December 2024 following due diligence, is now pending regulatory approvals. Axio has raised $232 million in equity and debt, claims over 10 million customers, and has a loan book exceeding $260 million. Reports suggest that the acquisition is valued at over $150 million. This move highlights Amazon's commitment to enhancing its credit-based offerings in the Indian market.