Amazon Completes Acquisition of NBFC Firm axio, Expands Financial Services in India

Amazon has completed the acquisition of non-banking financial services firm axio after RBI approval. The acquisition marks a milestone in Amazon's commitment to expanding financial services in India. Amazon and axio have partnered for over six years to facilitate buy-now-pay-later services to customers. axio claims to have served over 10 million customers to date and will continue to operate under its current leadership team.

Amazon (NASDAQ: AMZN) has completed the acquisition of Axio, a leading digital lending and checkout finance provider in India, following regulatory approval from the Reserve Bank of India (RBI). The deal, one of Amazon's largest in India, marks a significant milestone in the company's commitment to expanding its financial services offerings in the country [1].

The acquisition enhances Amazon Pay Later and helps extend credit access across India. Axio, which has served over 10 million customers to date, will continue to operate under its current leadership team while integrating more deeply as a subsidiary of Amazon. "Joining forces with Amazon marks an exciting new chapter for Axio," say Sashank Rishyasringa and Gaurav Hinduja, Co-founders at Axio. "This union will allow us to accelerate our mission to expand access to credit. With Amazon’s reach, customer centricity, and balance sheet depth, we are well-positioned to build on our product portfolio and existing partnerships to take digital lending to the next 100 million Indians – responsibly and at scale" [2].

The acquisition is expected to enhance Amazon Pay Later's checkout finance and term loan capabilities and create new opportunities for innovation in digital lending services across India, especially in underserved areas. "With only 1 in 6 Indian customers having access to checkout financing, growing access to credit is a fundamental priority for Amazon," says Mahendra Nerurkar, Vice President, Payments at Amazon India. "Over the past six years, our partnership with Axio has enabled us to unlock credit for more than 10 million customers. Axio’s digital lending expertise, combined with Amazon's reach, technology know-how, and bank relationships, will help us expand responsible lending to millions more customers and small businesses in the coming years" [3].

The acquisition is also expected to strengthen Amazon's position in the Indian fintech market. According to data from the National Payments Corporation of India, Amazon Pay was the ninth-largest player by volume on India’s unified payments interface channel in July 2025. The deal will help Amazon Pay grow its market share in India [4].

References:
[1] https://www.aboutamazon.in/news/company-news/amazon-acquires-axio
[2] https://www.business-standard.com/industry/news/amazon-completes-acquisition-axio-rbi-approval-125090401170_1.html
[3] https://www.ainvest.com/news/amazon-completes-axio-acquisition-india-expands-presence-market-2509/
[4] https://www.reuters.com/business/finance/amazon-completes-axio-acquisition-secures-access-direct-lending-business-india-2025-09-04/