Amazon has announced the successful completion of its acquisition of Axio, a digital lending and checkout finance provider in India.
The acquisition, which follows regulatory approval from the Reserve Bank of India (RBI), represents one of Amazon’s largest investments in the country and reflects its continued commitment to delivering transparent and innovative credit experiences to customers.
The partnership brings together Amazon’s extensive reach with Axio’s expertise in digital lending, aiming to enhance credit access across India.
Over the past six years, Axio has powered Amazon Pay’s Buy Now Pay Later services, enabling over 10 million customers to access financing at the point of sale.
“With only one in six Indian customers having access to checkout financing, growing credit availability remains a core priority for Amazon,” said Mahendra Nerurkar, Vice President, Payments at Amazon India.
“Our partnership with Axio has already enabled us to unlock credit for more than 10 million customers. Combining Axio’s lending expertise with Amazon’s technology, reach, and relationships with banks, we are well placed to expand responsible lending to millions more customers and small businesses in the years ahead,” he added.
Axio will continue to operate under its current leadership while integrating more deeply as a subsidiary of Amazon. “Joining forces with Amazon marks an exciting new chapter for Axio,” stated Sashank Rishyasringa and Gaurav Hinduja, Co-founders of Axio.
“This union will allow us to accelerate our mission to expand access to credit. With Amazon’s customer-centric approach, extensive reach, and strong balance sheet, we are well-positioned to build on our existing products and partnerships to take digital lending to the next 100 million Indians, responsibly and at scale.”
The acquisition is expected to bolster Amazon’s ability to offer innovative credit solutions across India, making purchases more affordable and accessible through Amazon Pay Later.
The move underscores Amazon’s dedication to supporting India’s digital economy by expanding credit access to underserved segments through simple, transparent, and fair lending products.
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