Amazon Nears Acquisition of Axio in All-Cash Deal

• Amazon is close to acquiring Indian fintech firm Axio in a $150-175 million all-cash deal, sources say.
• This would be Amazon's second acquisition in India this year, following its purchase of MX Player's assets in May.
• Amazon, already an investor in Axio, aims to enhance its BNPL services through this acquisition.
• Axio, which also partners with Decathlon and Xiaomi, has provided credit to 9 million customers so far.
• Despite Axio's revenue doubling in FY23, the deal's valuation may not be very lucrative for its investors.

Source: Entrackr