Liquidity Events
Amazon acquires lending platform Axio
Company Announcement Economic Times
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.
Between June 2014 and Aug 2024, Axio had raised about USD 219.66 M in equity and debt from Peak XV Partners, Evolvence India, Amazon, Ribbit Capital, QED Innovation Labs LLP and others.
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