CosmicTaco

Lightrock-backed fintech firm Axio raises $20 million from Amazon Smbhav Venture Fund

CosmicTaco · 2024-08-23T16:12:20.345134+05:30

- Axio, a digital lending firm backed by Lightrock, has secured $20 million in equity funding from the Amazon Smbhav Venture Fund. - The funds will be used to scale lending operations, expand checkout finance use cases, and offer more credit products. - Axio, formerly known as Capital Float, offers loans via its own books and co-lending partnerships, along with pay-later options and personal finance management. - The company has reached $1 billion in annualised disbursals, with 60% of customers from non-metros and a low NPA ratio of 2-3%. - Prior to this round, Axio had raised $137 million in equity and $671 million in debt, with Light Rock as the largest external shareholder. Source: [Moneycontrol](https://www.moneycontrol.com/technology/lightrock-backed-fintech-firm-axio-raises-20-million-from-amazon-smbhav-venture-fund-article-12805190.html)

Axio, a digital lending firm backed by Lightrock, has secured $20 million in equity funding from the Amazon Smbhav Venture Fund.
The funds will be used to scale lending operations, expand checkout finance use cases, and offer more credit products.
Axio, formerly known as Capital Float, offers loans via its own books and co-lending partnerships, along with pay-later options and personal finance management.
The company has reached $1 billion in annualised disbursals, with 60% of customers from non-metros and a low NPA ratio of 2-3%.
Prior to this round, Axio had raised $137 million in equity and $671 million in debt, with Light Rock as the largest external shareholder.

Source: Moneycontrol