Amazon has agreed to acquire Indian buy-now, pay-later startup Axio, deepening its push into financial services in one of its fastest-growing markets. The Amazon has agreed to acquire Indian buy now pay later startup Axio.

Axio announced in a blog post that it had signed an agreement with Amazon for a proposed acquisition in December, following the successful completion of due diligence. This development comes after Amazon SMBhav Venture Fund led a $20 million equity funding round in Axio in August last year.

Amazon and Axio previously had a six-year equity partnership, but they did not reveal the specifics of the takeover. Axio specialises in providing credit to customers, with a focu

Tech giant Amazon has signed an agreement to acquire Indian Buy Now Pay Later (BNPL) startup axio, according to a blog post.

Although Axio started operations in 2014 by lending to the SME segment, it later pivoted to consumer finance in 2018 and acquired a 60% stake in Walnut, a personal finance app.

Amazon Inc. is set to acquire buy-now-pay-later firm Axio, the local fintech said in a blog on its website. "In December, after successful completion of due diligence, we signed an agreement with Amazon for a proposed acquisition of Axio.

Amazon is set to acquire Bengaluru-based fintech firm Axio, enabling the e-commerce giant to expand credit-based offerings to its customers in India. Information about the deal size and shareholding pattern was not disclosed.

IBS Intelligence (IBSi) is the world’s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. We take pride in covering 400+ technology vendors globally – the largest by any analyst firm in this space.