E-commerce Giant Expands Financial Services with $150 Million Deal
Highlights:
- $150 Million Deal: Amazon agrees to acquire Axio for over $150 million.
- Six-Year Partnership: Amazon has held an equity stake in Axio for six years.
- Regulatory Approval: The acquisition awaits approval from the Indian central bank.
Summarized Story:
Amazon has agreed to acquire Indian buy-now, pay-later (BNPL) startup Axio for over $150 million, deepening its push into financial services in one of its fastest-growing markets.
Axio, formerly known as Capital Float, specializes in providing credit to self-employed individuals and households at the point of sale on major e-commerce platform. The acquisition, which follows a six-year equity partnership, requires regulatory approval from the Indian central bank.
