Axio to be Acquired by Amazon
Deal News | Jan 13, 2025 | Lightrock
Indian credit service platform Axio has announced a significant milestone: a proposed acquisition by global e-commerce giant Amazon. Having established a steadfast mission to provide credit access across India, Axio has served millions of households and self-employed individuals. The acquisition, following thorough due diligence, is pending necessary regulatory approvals. Amazon, a crucial partner in Axio's service delivery for six years, has facilitated a robust business model that has reached over 10 million customers with an AuM of Rs. 2,200 crores. The acquisition aims to leverage this existing successful partnership to further expand credit accessibility, diversify offerings, and enhance risk management while maintaining customer affordability. The collaboration holds promise for extensive outreach to underserved populations, promising continued growth in India's credit landscape.
Sectors
- Financial Services
- E-commerce
- Technology
Geography
- India – Axio operates primarily in India, serving millions of customers across the country.
Industry
- Financial Services – Axio operates in the financial services sector, providing credit services to households and individuals across India.
- E-commerce – Amazon, the acquiring company, is a major player in the e-commerce industry, expanding its reach into new service offerings like credit.
- Technology – The acquisition involves leveraging technology to enhance credit service delivery and accessibility.
Financials
- Rs. 2,200 crores – The Assets under Management (AuM) of Axio, reflecting the company's scale and financial performance.
- 3% GNPA – The Gross Non-Performing Asset (GNPA) ratio showcasing Axio's asset quality.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Axio | Target Company | Company | A financial services firm providing credit solutions across India. |
| Amazon | Bidding Company | Company | A global e-commerce and technology giant acquiring Axio to expand its financial service offerings. |
| Lightrock | Private Equity Firm | Company | The private equity firm involved in the long-term partnership and equity stake in Axio. |