Axio
Overview
Axio is a digital lending and consumer finance company based in Bengaluru, India. It was founded in 2013 by Gaurav Hinduja and Sashank Rishyasringa. The company specializes in offering "pay later" options and personal finance management tools, distributing credit to underserved segments through innovative technology. Over the years, Axio has raised about $291.95 million in funding, with Amazon's Smbhav Venture Fund being a recent investor.
Recent Developments
- August 2024: Axio secured a $20 million investment from Amazon's Smbhav Venture Fund. This investment will aid in scaling operations and introducing a range of new credit products designed to meet diverse consumer needs.
- July 2022: Capital Float, formerly known as Axio, unified its offerings under the Axio brand and continued to expand its footprint in digital lending.
- September 2021: The company raised $50 million to further scale its Buy Now, Pay Later (BNPL) platform, highlighting its commitment to providing innovative financial products.
- Over the past year, Axio has consistently expanded its services, focusing on personalized credit solutions, and has served over 15 million customers, with significant benefits extended to over nine million of those customers.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2013 |
| Headquarters | Bengaluru, India |
| Founders | Gaurav Hinduja, Sashank Rishyasringa |
| Revenue | ₹219.51 crore (FY 2022-23) |
| Profits | -₹137.72 crore (FY 2022-23 loss) |
| Key Investors | Amazon Smbhav Venture Fund, Alteria Capital, Peak XV Partners |
| Industry | Fintech |
| Number of Employees | 546 |
Early History
Axio began its journey in 2013 as a fintech startup aimed at revolutionizing digital lending in India. The company initially gained traction by offering innovative credit solutions to individuals and small businesses through partnerships with major e-commerce and service platforms like Amazon and MakeMyTrip. Early on, Axio's focus on user-friendly personal finance management tools and its dedication to serving underbanked segments set it apart in the competitive fintech landscape.
Company Profile and Achievements
Axio's business model revolves around providing seamless credit solutions to individuals, particularly focusing on Buy Now, Pay Later (BNPL) options and digital lending. Its platform integrates with various e-commerce and service providers, enabling consumers to access credit while shopping online. Significant achievements include:
- Introducing a robust BNPL platform serving millions of users across India.
- Raising a total of $291.95 million across multiple funding rounds.
- Partnering with global and local brands to offer quick and accessible financing solutions that cater to a wide consumer base.
- Expanding credit offerings from small-ticket purchases to significant personal finance management solutions.
Current Operations and Market Position
Axio currently operates as a leading digital lender in India, distinguished by its comprehensive credit offerings and innovative financial tools. The company holds a strong market position backed by significant investments and strategic partnerships. Its focus on leveraging technology to streamline the financial experience has allowed it to cater effectively to over 15 million customers. Axio's strategic initiatives include expanding its range of credit products and scaling operations to address diverse consumer needs, enhancing its competitive advantage in the fintech sector.
Conclusion
Axio represents a significant force in the Indian fintech landscape, distinguished by its innovative approach to digital lending and personal finance management. With a robust financing pipeline and strategic partnerships, Axio is poised for further growth and expansion, potentially impacting financial inclusion substantially in its market. Its trajectory suggests a continued emphasis on innovation and customer-centric solutions, ensuring its prominence in the financial tech industry.