Formed from a merger of Capital Float, Walnut and Walnut369. Axio enables e-commerce storefront to embed credit financing and money management tools at the checkout. The firm, which claims nine million credit customers and 3000 merchants, provides the backbone for pay later services for Amazon in India, offering shoppers payment terms of between three and 12 months. Axio co-founders, Sashank Rishyasringa and Gaurav Hinduja state: “This investment will enable us to further scale our loan book, enhance our checkout finance offering, and expand credit offerings to existing customers." “By combining product innovation with robust underwriting and risk controls, we aim to unlock access to credit for the next 200 million customers across India." Since its inception in 2013, Axio has raised $671 million in debt and $137 million in equity from a host of big name investors, including Creation, Elevation, Ribbit Capital, Sequoia and lightrock.