Funding
Amazon completes $200 million cash acquisition of Axio, adds an NBFC licence via deal
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In a major consolidation move in the fintech ecosystem, ecommerce giant Amazon has completed the acquisition of fintech lender Axio, in what is among its largest buyouts in India to date.
Speaking with ET, Mahendra Nerurkar, vice president, payments emerging market at Amazon said that the required approvals have been secured from the Reserve Bank of India (RBI), thereby paving the way for Axio (previously Capital Float) to become a 100% owned subsidiary entity of Amazon India.
Deal Size: While the company did not officially disclose the deal size,…
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