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Capital Float

“Can a digital-first Indian NBFC become Amazon's in-house consumer credit engine for India?”

Founded2013
HQBengaluru, India
FoundersSashank Rishyasringa, Gaurav Hinduja
Total raised$600M+ (incl. debt); ~$135M equity
Latest roundAcquired by Amazon (2025)
Valuation$150M+ acquisition price
IndustryFintech / Lending
The story

Founded 2013 as Capital Float — a digital-first NBFC focused on closing India's ₹25 lakh crore SME credit gap with unsecured working capital loans. Pivoted toward consumer BNPL after a deep 2017+ partnership with Amazon India powering checkout finance (Amazon Pay Later). Rebranded as Axio in 2022 to reflect the broader consumer credit / personal finance manager positioning. Acquired by Amazon in 2025, completing a six-year strategic arc from independent lending partner to in-house credit arm of Amazon Pay India.

Last 12 months
2025-01
2025-09
Product timeline
2013
Founded as Capital Float — digital SME lending platform in India· pivot
2017
Partnered with Amazon India to disburse loans to e-sellers· lending
2018
Expanded into BNPL / checkout financing via Amazon Pay Later· lending
2022
Rebranded from Capital Float to Axio· pivot
2025
Acquired by Amazon for $150M+ after 6 years of partnership and equity stake· acquisition
Regulated entities
1
regulatory licence held by Capital Float
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Capital Float’s embedded-finance stack
Lending
CapFloat Financial Services / Axio (in-house NBFC)SME working capital loans (₹5L–₹50L, 12–36 month tenure)Amazon Pay Later (checkout BNPL)Personal Loans (Amazon Pay Later & Xiaomi users)Buy Now, Pay Later (Shop)Co-lending with banking partners
Accounting gap: none

Capital Float — frequently asked

Who provides Capital Float's lending?

Capital Float's lending and capital products are provided by CapFloat Financial Services / Axio (in-house NBFC).

Who founded Capital Float?

Capital Float was founded by Sashank Rishyasringa and Gaurav Hinduja and is founded in 2013, headquartered in Bengaluru, India.

How much funding has Capital Float raised?

Capital Float has raised $600M+ (incl. debt); ~$135M equity in total (latest round: Acquired by Amazon (2025); valuation: $150M+ acquisition price).

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