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Co-founders Raichand Lunia and Harshvardhan Lunia, along with Mukul Sachan, who had stepped down in 2019, will also infuse capital.
Sep 12th Edition: How Capital Float (now Axio) and Lendingkart, in 2025, found themselves meeting the same fate; and why India’s healthcare is not ready for the AI and robotics revolution yet.
Amazon had first invested in Axio (formerly Capital Float) in 2018, injecting $22 million at about $350 million valuation.
Once the acquisition receives regulatory approval, it will make Amazon the first big tech company in India to gain access to an NBFC license through Axio.
The Bengaluru-based Axio (previously known as Capital Float) is close to securing $20 million in a new equity round.
