Fintech startup Axio has raised $20 million from the Amazon Smbhav Venture Fund to boost its lending operations and expand its credit offerings. This new funding brings Axio's total capital raised to $232 million.
Previously, Axio secured $137 million in equity and $671 million in debt, including a $50 million equity round in 2021 led by Lightrock India. With 10 million credit customers and $1 billion in annual disbursals, the company aims to grow its loan book and enhance its services for an additional 200 million customers in India.