Amazon has reached an agreement to acquire the Indian buy-now, pay-later company Axio as part of its expansion into financial services in India.

Finalized in December 2024, the deal awaits approval from the Reserve Bank of India.

The financial terms of the acquisition were not disclosed, but sources estimate the transaction exceeds US$150 million.

Axio, based in Bengaluru and formerly known as Capital Float, has raised US$135 million from investors including Peak XV Partners, Ribbit Capital, and Elevation Capital.

This acquisition marks Amazon’s second purchase in India within a year, following its acquisition of video streaming service MX Player in June 2024.

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