Amazon To Acquire Axio On Equity Partnership To Deliver Affordable Credit

Axio, an NBFC, in an update for its stakeholders said that it has been on a mission to make credit worthy for customers across India and has therefore signed an agreement with Amazon for a proposed acquisition of Axio.

Axio is a Non-Banking Financial Corporation (NBFC) and is a regulated entity under the Reserve Bank of India ( RBI ).

The company has previously served in the direction of making credit worthy for customers across India and while their journey has been marked by several milestones, they are now getting acquired by Amazon.

This transaction now awaits regulatory approvals.

"The proposed acquisition aims to build on a successful six-year business and equity partnership centered around delivering accessible and affordable credit to customers across the country. We have achieved steady growth with robust asset quality, having served over 10 million customers till-date with an AuM of Rs. 2,200 crores and a 3% GNPA. Amazon has been an invaluable partner in this journey, and we have more to accomplish together," the company said in the notification.

Through this partnership with Amazon, Axio aims to reach more under-served customers, diversifying its offerings to address more unmet needs, along with striking the right balance for customer experience, risk management, and affordability.

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