Amazon Expands Fintech Services in India
Amazon is expanding its fintech offerings in India, including payments, credit, BNPL, insurance, and fixed deposits following its acquisition of Axio. The strategy aims to leverage its more than 110 million users to build an embedded finance ecosystem, despite the unit currently operating at a loss.
- The acquisition of Axio was structured as a full buyout for a reported $150-$200 million, providing a complete exit for venture capital investors, including Peak XV Partners, Ribbit Capital, and Elevation
