Fintech firm Axio raises $20 million from Amazon Smbhav Venture Fund

Axio on Friday raised $20 million in equity funding from the Amazon Smbhav Venture Fund as the digital consumer finance startup aims to expand lending and offer more credit products.

Axio has raised $232 million in total funding with the latest round, according to data from Tracxn, a market intelligence platform.

Before the latest funding, the company had raised $137 million in equity and $671 million in debt. The company in 2021 raised $50 million in equity funding led by Lightrock India with participation from other investors.