Amazon completes Axio acquisition, strengthening its BNPL offering in India

Amazon has acquired Axio to strengthen BNPL services in India after RBI approval. Amazon earlier invested $22M in 2018 via Sambhav Fund and $20M more before this deal, estimated at $200M. Cofounders Gaurav Hinduja and Sashank Rishyasringa built Axio to serve 10M customers and manage INR 2,200 Cr in assets. Amazon’s Mahendra Nerurkar praised the partnership for enabling credit access to millions.