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
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I'm literally checking my expenses on axio right now
Me tooo
axio is one of the best money manager apps out there, I've been using it since 2016 (back when it was called Walnut).
Have made FDs there bcuz of good Interest rate.Should I exit???
Why bro ?
Fd are in banks so they are safe
Not so big banks they are utkarsh small fin bank.(they might be insured-5L-dont know for sure?)
Seems like they built a valuable business but raised too much money. Don’t think the founders will get a good exit here since investors are likely to have liquidity preference.
Axio is Pretty Undervalued. Very bad deal for Axio
True
A value to add to such news bits would be how it could affect us or employees of axio. Don’t know what changed since MX Player acquisition. Maybe better video stream? 🤷