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Amazon is set to acquire Bengaluru-based fintech startup Axio, which specializes in providing accessible credit to underserved individuals. The acquisition agreement was signed in December and is currently awaiting regulatory approvals. This move aligns with Amazon's strategy to enhance its financial services in India, a rapidly growing market for the company.
Axio has established a strong partnership with Amazon since 2018, focusing on delivering affordable credit solutions. The startup has served over 10 million customers and raised significant funding, showcasing its robust growth. This acquisition not only strengthens Amazon's financial services but also builds on a successful six-year collaboration with Axio.
• Amazon's acquisition of Axio expands its financial services in India.
• Axio has served over 10 million customers with a strong loan book.
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