Within a week of raising Rs. 210 crore in Series E equity round from CapitalG, MSME lending player Aye Finance has raised an additional Rs. 125 crore in debt from Germany-based impact investor, Invest in Vision. Aye will be utilizing these funds to lend to the micro-enterprise sector, facilitate job creation and their inclusion into the folds of organized lending.
Invest in Visions was founded by Edda Schroder in 2006 with the vision of offering institutional and retail investors access to impact investments - investments that offer investors both financial and social returns. They specialize in investments in sustainable agriculture, social enterprises and social impact lending.
Sanjay Sharma, Managing Director, Aye Finance said, “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. And we are grateful for the support we receive from our debt partners in helping us realize our mission of creating an inclusive India”.
“The fintech lender has raised funds, debt as well as equity even during these times of economic uncertainty, which validates the faith the investors have in Aye’s business model," he added.
Founded in 2014, the fintech lender has disbursed over Rs 3,000 crore to over two hundred thousand micro enterprises in India. Aye claims to have created a technology-enabled process that builds credit insights through a variety of available business, supply chain and predictive AI-driven data models to offer a line of credit to these bottom of the pyramid businesses and power their growth.
Micro enterprises are at the bottom of the MSME hierarchy of businesses and with this business model, the Aye team is working towards bringing them into the folds of the formal economy.
Since inception, Aye has raised over Rs. 690 crore in equity and over Rs. 2,000 crore in debt through various debt instruments. The lender has diversified its funding to ensure it can offer an economical line of credit to the underserved micro-enterprises of India. Through the use of innovative data models and technology supported by an engaged team that focuses untiringly on customer delight, Aye is recognized as the most admired financial institution in India by all its stakeholders.
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