Amazon Gains Direct Lending License in India With the Acquisition of Axio

Amazon has acquired Bengaluru-based non-banking lender Axio after receiving clearance from the Reserve Bank of India in June 2025, but the amount was not disclosed.

Axio’s Profile

Axio, formerly known as Capital Float, was founded 12 years ago. It provides credit and digital money management solutions for retail customers and small businesses. The company reported a loan book of about ₹2,200 crore ($251 million) for the quarter ending June 2025.

Shift to Direct Lending

Through this acquisition, Amazon now holds a direct lending license in India. This sets it apart from most e-commerce players that typically offer loans through banks or NBFC partners. Flipkart, for instance, received its NBFC license in April via its unit Flipkart Finance, which allows lending but not deposit-taking.

Integration and Operations

As per news reports, Axio has partnered with Amazon since 2018 to provide pay-later and credit products. Following the acquisition, it will function as a wholly owned subsidiary while continuing under its current leadership. The company has already extended credit access to more than 10 million customers.

Read more: Govt to Use Amazon, Flipkart Data for Inflation Overhaul, to Introduce Services Index!

Broader Financial Services Push

The deal adds to Amazon’s growing financial services in India. The company already has approvals to operate a payment wallet and distribute insurance policies. Its payments unit, Amazon Pay, ranked 9th by volume on the Unified Payments Interface (UPI) network in July 2025, according to data from the National Payments Corporation of India.

Conclusion

The acquisition of Axio gives Amazon direct control over lending operations in India. It builds on a 6-year partnership and positions the company to expand its reach in both consumer and merchant credit.

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