Axio to be Acquired by Amazon

Deal News | Jan 17, 2025 | Lightrock

Axio to be Acquired by Amazon

Amazon has entered into an agreement to acquire Axio, marking a significant milestone in Axio's mission to offer accessible credit across India. After extensive due diligence, the acquisition deal is awaiting regulatory approval. Axio and Amazon have had a fruitful six-year partnership focused on providing affordable credit, with Axio serving over 10 million customers and maintaining assets under management (AuM) of Rs. 2,200 crores and a gross non-performing asset (GNPA) ratio of 3%. This acquisition aims to further advance this mission by reaching underserved populations and expanding product offerings. Lightrock, a significant partner in Axio's journey, continues to support the strategic growth in collaboration with Amazon.

Sectors

  • Financial Services
  • Technology

Geography

  • India – Axio focuses on providing credit services across India, which is crucial to its operations and mission.
  • United States – Amazon, a U.S-based global technology company, is involved in the acquisition, influencing and expanding its operations in India.

Industry

  • Financial Services – Axio operates within the financial services sector, providing credit and financial solutions to customers in India.
  • Technology – Amazon, a leader in technology, utilizes its platform to expand services like credit offerings through acquisitions such as that of Axio.

Financials

  • Rs. 2,200 crores – This figure represents the Assets under Management (AuM) achieved by Axio.

Participants

NameRoleTypeDescription
AmazonBidding CompanyCompanyAmazon is an American multinational technology company acquiring Axio to enhance its services in financial technology and credit availability.
AxioTarget CompanyCompanyAxio is an Indian-based financial services company specializing in providing credit solutions to consumers across India.
LightrockPrivate Equity/Backing PartnerPE FirmLightrock is a private equity firm that has supported Axio's growth and development, playing a pivotal role in its past success.