Amazon acquires lending platform Axio

E-commerce major Amazon has acquired Bengaluru-based fintech lending startup Axio (formerly Capital Float) in a deal that was concluded in December 2024. Amazon first backed Axio in 2018. In August 2024 it led a USD 20-M round in the company through its Smbhav Fund.Founded in 2013 by Sashank Rishyasringa and Gaurav Hinduja, Axio operates as a non-banking financial company (NBFC) and also works through co-lending partnerships with banks and other NBFCs. It claims to have served over 10 million customers and managing assets worth INR 2,200 crore.