Amazon has agreed to purchase Indian buy now, pay later (BNPL) provider axio in a deal reportedly exceeding $150 million.
About axio
axio was formed through the merger of Capital Float, Walnut, and Walnut369 and is a key player in India’s e-commerce credit financing market. Its solutions allow online merchants to embed financing and money management tools at checkout. To date, the company has supported over 10 million customers and 3,000 merchants, playing a critical role in Amazon India’s pay-later services. These services offer shoppers flexible payment options ranging from three to 12 months.
Amazon’s Longstanding Relationship with axio
Amazon and axio share a six-year partnership. Last year, Amazon invested $20 million in axio via its Smbhav Venture Fund, signaling its confidence in the firm’s services. The two companies finalized a takeover agreement in December 2024 after completing due diligence, although the deal is subject to regulatory approval.
Strategic Implications
The acquisition aligns with Amazon’s vision of enhancing consumer access to credit and expanding payment solutions across its vast platform in India.
Commenting on the development, axio stated:
“This means reaching more under-served customers, diversifying our offerings to address more unmet needs, and continuing to strike the right balance of customer experience, risk management, and affordability as we strive to responsibly expand access to credit across the country.”