SUMMARY
- Aye Finance raised ₹250 cr in Series G, led by ABC Impact and supported by BII.
- The funds will enhance operations and credit accessibility, targeting underserved MSMEs across India.
- Earlier debt funding rounds included Rs 250 cr from FMO in June and ₹137 cr from Invest in Visions.
Lending tech firm Aye Finance has recently secured ₹250 Crore (about $30 Million) in a Series G fundraising round headed by Singapore-based impact investor ABC Impact, over a month after finalizing the loan securitization transaction with Goldman Sachs Finance. The company’s current investor British International Investment (BII), who spearheaded its Series F funding round of ₹310 Crore in December of last year, participated in the funding round as well.
Founder and Managing Director Sanjay Sharma states, “We are delighted to partner with ABC Impact in this round and look forward to maximizing impact. This capital infusion will enable us to scale our operations and enhance our ability to deliver value to our target segment of micro-enterprises.”
Chief impact officer at ABC Impact Sugandhi Matta stated, “Our partnership with Aye Finance will support micro-entrepreneurs with better access to credit so that they can grow their businesses and realize their full potential. Their focused use of technology has enabled scalable growth across the country, positioning them as a notable lender for their target segment.”
Sanjay Sharma and Vikram Jetley-led Aye Finance provides loans to small businesses throughout the nation. In the absence of conventional business documentation, it evaluates risk using cluster-based credit assessment combined with AI algorithms.
To provide loans to underserved micro, small, and medium-sized enterprises (MSMEs) throughout India, Aye Finance has also raised capital in the form of debt funding twice this year, in June, for ₹250 Crore, from the Dutch entrepreneurial development bank FMO, and in March, for ₹137 Crore from the German impact investment and portfolio management firm Invest in Visions. The company said in a statement that its equity raising with the current funding round is ₹1,250 Crore.
