Summary:
Amazon has taken a major step into India’s financial services sector by acquiring Bengaluru-based NBFC Axio (formerly Capital Float). With Reserve Bank of India (RBI) clearance received in June 2025, the deal grants Amazon a direct lending license in India, though the transaction amount has not been disclosed.
Axio’s Profile
- Founded 12 years ago, Axio offers credit and digital money management solutions for both retail consumers and small businesses.
- It reported a loan book of around ₹2,200 crore ($251 million) for the quarter ending June 2025.
- The company has already provided credit access to over 10 million customers across India.
Amazon’s Shift to Direct Lending
Through this acquisition, Amazon has joined the small group of e-commerce companies with their own NBFC license, allowing direct lending rather than depending solely on bank or NBFC partnerships.
- By contrast, Flipkart obtained its NBFC license in April 2025 through Flipkart Finance, which permits lending but not deposit-taking.
- Amazon’s move positions it to deepen consumer credit offerings and expand its footprint in financial services.
Integration with Amazon
Axio has partnered with Amazon since 2018 to power its pay-later and credit products. Following the acquisition:
- Axio will operate as a wholly owned subsidiary under its existing leadership.
- It is expected to strengthen Amazon Pay’s ecosystem and enhance financing options for millions of Indian users.
Broader Push into Financial Services
The acquisition underscores Amazon’s ambitions to grow its financial services presence in India. Currently, Amazon already operates:
- A payment wallet license
- Approvals for insurance distribution
- Amazon Pay, which ranked 9th in UPI transaction volumes in July 2025 (NPCI data).
Disclaimer:
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