Axio has achieved steady growth with robust asset quality, having served over 10 million customers till-date with an AuM of Rs. 2,200 crores and a 3% GNPA
FinTech BizNews Service
Mumbai, January 17, 2025: Amazon has agreed for acquisition Of the digital lender Axio.
In a public update, the axio has issued a statement:
At axio, we’ve been on a mission to make credit worthy for customers across India. Fueled by this purpose, we’ve served millions of households and self-employed individuals over the last decade. This journey has been marked by several milestones, and we are happy to share another significant one.
In December, after 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 proposed acquisition aims to build on a successful six-year business and equity partnership centered around delivering accessible and affordable credit to customers across the country. We have achieved steady growth with robust asset quality, having served over 10 million customers till-date with an AuM of Rs. 2,200 crores and a 3% GNPA. Amazon has been an invaluable partner in this journey, and we have more to accomplish together.
This means reaching more under-served customers, diversifying our offerings to address more unmet needs, and continuing to strike the right balance of customer experience, risk management, and affordability as we strive to responsibly expand access to credit across the country.
We’re energized by what lies ahead and the opportunities to create meaningful change. For now, it’s back to business, as we remain committed to our mission and the partners and customers we serve.
