Amazon has officially moved to acquire Indian “Buy Now, Pay Later” (BNPL) startup Axio in a deal valued at over $150 million, signaling a major push to deepen the e-commerce giant’s footprint in India’s competitive fintech sector.
Challenging the Market Leader
The acquisition pits Amazon directly against Bajaj Finance, the colossal Indian financial services provider that currently maintains a dominant grip on the local credit and retail finance market.
Strategic Growth in the Indian Market
Axio marks the second major startup acquisition for Amazon in India within the last year, following the purchase of on-demand video streaming service MX Player this past June.
This latest investment reinforces Amazon’s aggressive strategy in the region, where the tech behemoth has already deployed more than $10 billion in capital to date.
