Axio, which started as Capital Float is one of the leading fintech companies in India has recently completed a $20 million right issue. The experts are of the opinion that the existing investors such as Amazon participated in this round of funding as well. Axio raises a strategic interest of Amazon in the Indian fintech market as the company has acquired a stake in Axio.
It is with this fresh capital that Axio will be able to power its growth strategy and increase its operations in lending business. The company has been in good financial health as it has posted good results for the past fiscal year as reflected in its balance sheet, where the revenues have grown significantly and the losses have been cut down substantially. In the same regard, more success for Axio entails continued competition within the Indian fintech space.
