Amazon to buy Indian BNPL startup Axio for over $150M

Amazon has agreed to acquire Indian buy-now, pay-later startup Axio, deepening its push into financial services in one of its fastest-growing markets.

The e-commerce group, which has held an equity stake in Axio for six years, signed the acquisition agreement in December after completing due diligence, the Indian startup said in a blog post.

Financial terms of the deal were not disclosed, but two people familiar with the matter told TechCrunch that the size of the deal is over $150 million. The transaction requires approval from the Indian central bank.