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