Amazon to buy BNPL startup Axio

E-commerce giant Amazon is set to acquire Indian startup Axio, an online lending platform offering point-of-sale financing. Amazon first invested in Axio during its Series C funding round six years ago and currently holds an 8% stake in the company.

“In December, after the successful completion of due diligence, we signed an agreement with Amazon for a proposed acquisition of Axio. The transaction will now await the required regulatory approvals,” the company stated in a blog post.