![\"\"](\"https://cross-border-magazine.com/wp-content/uploads/2025/01/crossbordermagazine-header-75.png\")
Amazon has taken a strategic step in its expansion in India and will acquire Axio, a local startup specializing in the “Buy Now, Pay Later (BNPL)” modality. With this transaction, the company founded by Jeff Bezos reinforces its commitment to financial services in one of its most dynamic and fastest-growing markets.
\n\n\n\nAxio has confirmed the acquisition through a blog post detailing that the deal was closed last December after completing a rigorous due diligence process. Although financial terms have not been disclosed, sources close to the deal have confirmed to TechCrunch that “the value of the transaction exceeds $150 million.” The transaction is still subject to approval from India's central bank.
\n\n\n\nThe startup, backed by investors such as Peak XV Partners, Ribbit Capital, and Elevation Capital, has raised $135 million since its founding. Axio has positioned itself as a key player in India's financial ecosystem, providing instant credit to more than 10 million customers and managing a loan portfolio valued at $260 million. Its solutions are designed to address the limited penetration of traditional credit in the country, where credit cards are scarce, and banks often avoid small loans as unprofitable.
\n\n\n\nAxio's technology allows it to assess customer creditworthiness quickly and efficiently, facilitating credit decisions in seconds. This approach has made it an attractive option for e-commerce platforms such as Amazon and MakeMyTrip, where it offers its services at the point of sale.
\n\n\n\nHowever, the market in which Axio operates is not without its challenges. Similar startups such as ZestMoney - backed by Goldman Sachs and once valued at $450 million - have also faced difficulties in sustaining their growth and were eventually bought by financial services firm DMI Group in a liquidation sale last fiscal year. Axio competes with Bajaj Finance, the Indian financial services titan that dominates the market.
\n\n\n\nAxio is the second startup Amazon has bought in India in the past year, after acquiring on-demand video streaming platform MX Player last June. So far, Amazon has invested more than $10 billion in India.
\n","protected":false},"excerpt":{"rendered":"Amazon has taken a strategic step in its expansion in India and will acquire Axio, a local startup specializing in the “Buy Now, Pay Later (BNPL)” modality. With this transaction,...
\n","protected":false},"author":10,"featured_media":11653,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[95,1204,98,202,90,321],"class_list":["post-11652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-amazon","tag-axio","tag-cross-border","tag-e-commerce","tag-india","tag-online-shopping"],"acf":[],"yoast_head":"\n