Amazon Gains RBI-Approved Direct Lending License in India

Amazon has officially completed the acquisition of Bengaluru-based fintech firm Axio, gaining a direct lending license in India after approval from the Reserve Bank of India (RBI) in June 2025. The deal, which has been in progress since December, marks a major step for the global e-commerce giant in expanding its digital finance and lending services across the country.

Axio, a 12-year-old fintech lender, is known for offering digital credit, consumer loans, and money management solutions to both retail customers and small businesses. By integrating Axio’s expertise with Amazon’s massive e-commerce ecosystem, the company aims to provide seamless credit offerings such as checkout loans, buy-now-pay-later options, and SME financing solutions.

Mahendra Nerurkar, Amazon’s VP of Payments for emerging markets, highlighted that the acquisition will enable Amazon to invent new credit products tailored for Indian consumers and small and medium businesses (SMBs). This move positions Amazon in direct competition with players like Flipkart, which secured its non-banking financial company (NBFC) license in April through its unit Flipkart Finance.

With the RBI’s nod, Amazon is set to leverage India’s rapidly growing digital lending market, where demand for instant credit, personal loans, and small business financing is surging. The acquisition reinforces Amazon’s long-term strategy of embedding financial services into its e-commerce platform, creating new opportunities for both retail consumers and entrepreneurs in India’s thriving digital economy.