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 Amazon has agreed to acquire Indian buy now pay later startup Axio.

Tech giant Amazon has signed an agreement to acquire Indian Buy Now Pay Later (BNPL) startup axio, according to a blog post.

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Axio announced in a blog post that it had signed an agreement with Amazon for a proposed acquisition in December, following the successful completion of due diligence. This development comes after Amazon SMBhav Venture Fund led a $20 million equity funding round in Axio in August last year.

Amazon to acquire fintech lending start-up Axio, expanding financial services in India with regulatory approvals pending.