Online lending platform Axio raised $20 M from Amazon Smbhav Venture Fund

Axio, formerly known as Capital Float, is an online lending platform that has raised $20 million from Amazon Smbhav Venture Fund.

According to a press release from Axio, the money will be used to support future growth, which will include growing the lending operations, increasing the use cases for checkout finance, and providing customers with more credit products.

The company reports that its annualized disbursals have reached $1 billion, and it has continued to maintain a low non-performing assets ratio (NPA) of 2-3%. According to its release, the Bengaluru-based company had raised $671 million in debt and $137 million in equity prior to this round.