Aye Finance raises Rs. 125 crore debt from Invest in Vision. Fintech start-up Aye Finance, headquartered in Gurugram raises Rs 125 crore in debt from Germany-based Invest in Vision.
According to a statement released by the company. Aye Finance will be utilizing the freshly raised funds to lend to the micro enterprise sector. And to facilitate job creation. Founded in 2014. It claims to have disbursed over Rs 3,000 crore to over two Lakh micro enterprises (MSME) in India. It has created a technically enabled process. Which builds credit insights through a variety of available business as well as supply chain, and predictive AI driven data models to offer a line of credit to startups to boost their growth.
Invest in Vision (2006) focuses in investments in social enterprises, and social impact lending (social bonds, for example, in the areas of healthcare, education, social housing). The funding round came in within a week of the company raising Rs 210 crore from CapitalG, Alphabet’s independent growth fund.
Commenting on the fundraise, Sanjay Sharma, Managing Director, Aye Finance, said,
“Since our inception, we have been making affordable loans a reality for the historically credit starved micro enterprises of India. Access to adequate capital has never been more significant than in these current times of economic disruptions and we are committed to supporting these grassroots business through these trying times as well with our loan offerings. We are grateful for the support we receive from our debt partners in helping us realise our mission of creating an inclusive India.”
Overall, the company has raised Rs. 690 Cr in equity and Rs. 2000 Cr in debt.
Do you know that the 60 mn #MSMEs in India are responsible for creating over 100 mn jobs? Sanjay Sharma, MD, #AyeFinance is certain that with continued support from #NBFCs, MSMEs will continue to thrive, no matter what. #WorldMSMEDay
Read more in @ETBFSI https://t.co/iVSAABtjfQ— Aye Finance (@ayefinance) June 27, 2020
