NBFC Aye Finance raises Rs 20 crore in new round of funding
BENGALURU: Delhi-based non-banking finance company Aye Finance has raised Rs 20 crore in a new round of funding from existing backers, venture and growth capital investor SAIF Partners and financial inclusion-focused firm Accion.
After CapitalFloat, now Aye Finance bags funding to provide loans to startups in India
Though startups in India raised nearly US$5 billion from venture capital funds and angel investors last year, a large number of young companies still find it tough to access capital, especially if they don’t want to share equity with VCs. Banks tie them up in red tape, informal moneylenders demand too much for too little, and microfinance companies have far too little to offer these entrepreneurs. Indian lender Aye Finance, which aims to mitigate this problem, has just bagged US$1 million in funding from SAIF Partners and Accion.
Accion and SAIF Partners co-invest in India based Aye Finance
SAIF Partners and Accion announced co-investments in Aye Finance, an India-based lender that will serve thousands of profitable micro, small, and medium enterprises (MSMEs), which are often locked out of both traditional microfinance and commercial capital.
MSME lender Aye Finance raises $1 million funding from Accion and SAIF Partners
Aye Finance, an India-based lender for the profitable micro, small, and medium enterprises (MSMEs), has raised $1 million investment from SAIF Partners and Accion. Earlier this month, SAIF Partners also participated in the $13 million investment round of Capital Float (with Sequoia Capital).
AYE Finance closes Rs 70 crore funding round led by LGT Impact Ventures
NEW DELHI: New Delhi-based non-banking financial company AYE Finance has closed a Rs 70 crore round of equity funding, led by impact investment firm LGT Impact Ventures, with existing backers SAIF Partners and Accion also participating.