India, Sept. 4 -- Ecommerce giant Amazon has completed the acquisition of digital lending startup axio (formerly Capital Float) eight months after it entered into a definitive agreement.

In a statement, Amazon said that the acquisition has been completed following receipt of regulatory approval from the RBI.

Amazon will use axio to boost its buy now, pay later (BNPL) offering in India. Notably, Amazon made its first investment of $22 Mn in axio via its Sambhav Venture Fund in 2018. It doubled down on the bet by pumping another $20 Mn in the startup, before finally deciding to acquire it in January.

"Over the past six years, our partnership with axio has enabled us to unlock credit for more than 10 Mn customers. axio's digital lending e...