Lightrock-backed fintech firm Axio raises $20 million from Amazon Smbhav Venture Fund

- Axio, a digital lending firm backed by Lightrock, has secured $20 million in equity funding from the Amazon Smbhav Venture Fund. - The funds will be used to scale lending operations, expand checkout finance use cases, and offer more credit products. - Axio, formerly known as Capital Float, offers loans via its own books and co-lending partnerships, along with pay-later options and personal finance management. - The company has reached $1 billion in annualised disbursals, with 60% of customers from non-metros and a low NPA ratio of 2-3%. - Prior to this round, Axio had raised $137 million in equity and $671 million in debt, with Light Rock as the largest external shareholder. Source: [Moneycontrol](https://www.moneycontrol.com/technology/lightrock-backed-fintech-firm-axio-raises-20-million-from-amazon-smbhav-venture-fund-article-12805190.html)