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Amazon to acquire Indian digital lending firm Axio

By Gloria Methri

January 17, 2025

  • Affordable Credit
  • Affordable Lending
  • Amazon
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Axio, Amazon, Digital Lending, Credit, BNPL, Financial Inclusion, IndiaAmazon has signed an agreement to acquire Axio, a digital lending firm making credit accessible to underserved individuals and households across India. The acquisition is expected to enhance Amazon’s presence in the lending space, strengthening its efforts to provide affordable credit solutions in the country.

Axio, which has served over 10 million customers since its inception, has greatly democratised access to credit for the self-employed and low-income sectors. The company boasts an asset under management (AuM) of Rs. 2,200 crores and a gross non-performing asset (GNPA) ratio of 3%. The acquisition, pending regulatory approval, builds on the six-year business and equity partnership between Axio and Amazon.

Axio’s announcement on their website highlighted the successful completion of the due diligence process and the agreement’s signing in December. The company emphasised that Amazon has been an invaluable partner in its journey of growth, particularly in driving financial inclusion. “This transaction will enable us to reach more underserved customers, diversify our offerings, and continue to innovate while maintaining a strong balance between customer experience, risk management, and affordability,” the statement reads.

Axio aims to continue expanding its digital lending solutions, with an increased focus on meeting the growing credit needs of millions of unbanked and underbanked individuals in India. With Amazon’s backing, the firm aims to accelerate its mission of providing affordable, accessible, and responsible credit solutions to a broader customer base across the country.

The proposed acquisition also positions Amazon to tap into India’s rapidly growing digital lending market, which has become a key area of focus for FinTech firms and tech giants alike. With a commitment to enhancing customer experience and responsible lending practices, Amazon’s move to acquire Axio signals a long-term strategy to disrupt traditional lending models and offer a more inclusive financial ecosystem.

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