Amazon has agreed to acquire Indian buy-now, pay-later startup Axio, deepening its push into financial services in one of its fastest-growing markets. The Amazon has agreed to acquire Indian buy now pay later startup Axio.

Tech giant Amazon has signed an agreement to acquire Indian Buy Now Pay Later (BNPL) startup axio, according to a blog post.

Two major battery manufacturers have plans to set up plants in India. This and more in today’s ETtech Morning Dispatch.

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Amazon acquires Axio for $200M, deepening its roots in fintech and making it the first big tech company with an NBFC license in India.

Axio announced in a blog post that it had signed an agreement with Amazon for a proposed acquisition in December, following the successful completion of due diligence. This development comes after Amazon SMBhav Venture Fund led a $20 million equity funding round in Axio in August last year.