Aye Finance leads the way in building capabilities of Micro Enterprises.
Mar 24, 2023: Along with affordable finance the fintech lender also provides non-financial services to the underserved sector through its Section 8 Company FAME.
Knowledge Session: How to Foster a Culture of Innovation in the Financial Services Industry
Feb 28, 2023: Sovan Satyaprakash, Head of Strategic Program & Digital Business, shared his insights on cultivating a culture of innovation within the financial service industry in a video featured on the ET BFSI YouTube channel.
Jan 29, 2023: Sanjay Sharma, MD, advocates for increased lending to micro-enterprises by banks & NBFCs.
Jan 28, 2023: Sanjay Sharma, MD, talked about how the upcoming year could mark a crucial turning point for India, and it's crucial for the budget to prioritize growth and stability.
Aye Finance to open 87 branches across India
Jan 24, 2023: Aye Finance to open 87 branches, expanding its presence in 396 locations in 22 states.
AI adoption from a cultural perspective
Jan 13, 2023: Tejamoy Ghosh, the Head of Data Science and AI, shared his invaluable advice to businesses, advocating a phased and graded implementation strategy to minimize major disruptions during deployment.
Fintech Diary interview on Micro SMEs
Dec 29, 2022: Sanjay Sharma, MD, Aye Finance interviewed by ETBFSI’s Editor, Amol Dethe on Aye Finance’s growth story.
HR Tech - a key enabler in adjusting to the new normal
Dec 21, 2022: Quote from Sanjay Sharma, MD, Aye Finance on how HR Tech is a key enabler in assisting firms in adjusting to the new normal.
USD 10 million ECB raised by Aye Finance
Dec 1, 2022: Aye Finance raised USD 10 million in external commercial borrowings from Swiss-based ResponsAbility Investments.
Nov 30, 2022: Aye Finance recorded a profit before tax of Rs.27.8 crore in the fiscal first half ended September.
Aye Finance raises Rs. 87 crore from Swiss impact investor
Nov 17, 2022: Fintech lender Aye Finance raised Rs 87 crore debt funding from Swiss impact investor BlueOrchard.
Aye Finance among 5 FinTechs helping businesses grow amid the festive season
Oct 31, 2022: The Digital India movement has led to the widespread adoption of digital technology. Aye Finance was featured as one of ventures that have emerged as trade facilitators.
An insight into Aye Finance’s hiring strategy and employee-focused initiatives
Sept 29, 2022: In an exclusive interaction with ET HRWorld, Ankur Sharma, HR Head, Aye Finance, talks about how the company is planning to expand its team, introduce initiatives and upskill its employees.
INR 65 cr ECB raised by Aye Finance from Symbiotics
Sept 21, 2022: Aye Finance, a non-bank lender to micro and small enterprises raised Rs 65 crore in external commercial borrowing from Symbiotics Investments
Sept 20, 2022: Watch Ritwika Gupta in conversation with Sanjay Sharma, MD, Aye Finance about the digital lending landscape & the impact of MSMEs on the Indian economy.
August 29, 2022:In an interview with TechGraph, Sanjay Sharma, Managing Director of Aye Finance said, “Technologies like AI and RPA can also assist NBFCs with quick decision-making.”
Titans of Tomorrow – BW Unicorn awards 2021-22
Aug 13, 2022:Celebrating high performing start-ups that are geared to help realize the $5-trillion economy dream. Aye Finance won the Soonicorn award, for its outstanding contribution to the startup ecosystem.
Customer-Centered Affordable Loans
Aug 1, 2022:Article on Aye Finance Every initiative stems from the vision, mission, and values of the company. Aye Finance aims to transform the micro and small business financing sector
Alphabet-backed fintech Aye Finance to set up 100 new branches in 3 months
July 26, 2022:Sanjay Sharma, Managing Director, Aye Finance, speaks about Aye Finance, a new-age non banking finance company is eyeing 50 per cent loan book growth this fiscal
July 22, 2022:Ankur Sharma, Head HR talks on creating digital-ready, cross-skilled talent at Aye Finance
The advent of Fintechs has catalyzed the growth of women micro-entrepreneurs
July 21, 2022:Sanjay Sharma, Managing Director, Aye Finance, speaks on some of the issues women entrepreneurs usually face, and what could be done about it.
How NBFCs are aiding the growth of Micro Entrepreneurs
July 4, 2022:Sovan Satyaprakash, Head Strategy, Aye Finance, writes about the role of NFBCs in the growth of micro- entrepreneurs and the failure banks in catering to the funding requirements of micro enterprises at @BusinessWorld.
How Fintech Companies are using AI, Machine Learning to create Alternative Lending Score
July 2, 2022:Tejamoy Ghosh, Head Data Science and A.I., writes about the Fintech companies lending in markets where adequate credit history, banking records, and tax-filing records, etc., are not available, especially rely on such alternative lending scores for their underwriting.
ETRise International MSME Day 2022 Mega Conclave
June 27, 2022:Sanjay Sharma, MD, Aye Finance talk about how can we enable greater access to finance for MSMEs and reduce roadblocks, increase their competitiveness in a global economy and increase their ability to stay operational.
Aye Finance designed a unique “cluster-based assessment” methodology, says MD, Sanjay Sharma
April 8, 2022: Aye Finance is the only scaled, pan- India player providing unsecured small- ticket business loans to a large credit- starved micro- enterprise segment. Our team has cracked this difficult-to-lend segment with our unique cluster-based appraisal approach and optimally digitalized phygital model.
How Fintech players are leveraging AI/ML to bridge the gap in MSME lending
May 25, 2022: AI/ ML is proving to be a valuable tool in helping Fintechs not only drive efficiency and profitability, but also in enabling the financial inclusion of micro-enterprises- a sector that has suffered decades of discrimination and exclusion from formal lending channels in the country.
Aye Finance raises Rs 75 crore debt from Triple Jump and Northern Arc
March 23, 2022: Aye Finance has announced a debt raise of INR 75 crores from leading global impact investment manager, Triple Jump BV and Northern Arc. The company aims these funds for on-lending. Aye Finance was incepted in 2014 and since then has disbursed over INR 5000 crores to over three and a half lakh micro enterprises.
Aye Finance: MSME financing made easy
March 7, 2022: In discussion with Financial Express, Sanjay Sharma, MD, Aye Finance talks about the company’s cluster-based credit appraisal approach and phygital model that bridges the gap between MSMEs and organised lending norms.
Aye Finance gets featured on CNBC Awaaz
Jan 31, 2022: Sanjay Sharma, MD, Aye Finance talks about the future of MSME lending and the various government initiatives for the MSME segment, in the light of the upcoming union budget.
Jan 27, 2022: Sanjay Sharma, MD, shares detailed insights into how the company plans to continue on this trajectory in the coming year as well, strengthening its presence and bringing a larger number of micro entrepreneurs into the folds of formal economy.
Aye Finance plans to hire over 1,000 employees
November 24, 2021: Aye Finance has announced its plan to hire over 1000 employees in Tier 2 and beyond citiesby mid-December 2021 taking the headcount to 4,800 employees. Aye has been on a rapid expansion and has opened 100 new centres in the current financial year taking its presence to 311 centres in 20 states.
Aye Finance plans to hire over 1,000 employees
November 24, 2021: Aye Finance has announced its plan to hire over 1000 employees in Tier 2 and beyond citiesby mid-December 2021 taking the headcount to 4,800 employees. Aye has been on a rapid expansion and has opened 100 new centres in the current financial year taking its presence to 311 centres in 20 states.
Aye Finance announces expansion plan, to open 100 new centers by November 2021
October 28, 2021: Aye Finance has been expanding its footprint and has announced the opening of 100 new centres by November 2021, taking its geographical footprint to 311 centres in 20 states.
October 7, 2021: Aye Finance plans to raise capital of about $40–50 million in a Series F round in January–March 2022 to fund business growth, “Since markets are now good, we will look at raising some equity money this fiscal and probably in the Jan-February period in the second half,” says Sanjay Sharma, MD, Aye Finance.
Saviours of the Indian MSME Sector – Entrepreneur India
October, 2021: Sanjay Sharma, MD, Aye Finance, was featured in October 2021’s issue of Entrepreneur India magazine. In the article, Sanjay Sharma talks about how micro-enterprises play a vital role in our economy yet are still denied traditional funding from banks.
Fintech company Aye Finance aims to raise up to Rs 400 cr equity
September 03, 2021: Aye Finance is planning to raise Rs 350-400 crore equity as part of its business growth strategy for the next two years. This will be the first equity expansion by the company after the Covid-19 pandemic, says Sanjay Sharma, MD.
Sanjay Sharma, MD, in conversation with Shereen Bhan of CNBC TV18 – YoungTurks
August 26, 2021: “Customers were hesitant to take loans in the first wave of COVID-19 but in the next wave, the loans uptick has improved. Our ticket size has also gone up post the second wave.”
Sanjay Sharma, MD, Aye Finance, was in conversation with Shereen Bhan where they discussed the growth of alternate lenders as India’s digital lending market booms, and the difficulties micro-enterprises have to go through to access funds.
Aye Finance – ET Now Leaders of Tomorrow – Sanjay Sharma
August 02, 2021: Sanjay Sharma, Managing Director, Aye Finance was in conversation with Sunanda Jayaseelan on Leaders of Tomorrow. The discussion was on the challenges faced by the micro-enterprises due to the COVID-19 pandemic, and how financial aid can be provided to these businesses with immediate funds in form of cash in hand.
How the work culture has evolved in BFSI sector post Covid-19 by Ankur Sharma, Head – HR.
August 02, 2021: The effects of the pandemic and its adjacent disruptions are bound to last for many years. Investing resources into shatter-proofing the organization against challenges is the biggest need of the hour. Ankur Sharma, Head – HR, weighs in on how the work culture has evolved in the BFSI sector post-Covid-19
Best Indian employers: Find out which company pipped Adobe, M&M to the top spot
June 21, 2021: After being ranked by GPTW Institute on five basic parameters — credibility, respect, fairness, pride and camaraderie, Aye Finance has emerged as the 4th best workplace in India.
‘Great Place to Work’ list 2021: Take a look at India’s best companies to work
June 20, 2021: Aye Finance ranked 4th among India’s Best Companies to Work for 2021. Aye was also ranked 1st among NBFCs in India and 1st in the BFSI sector as well.
काम करने के लिहाज से कौन हैं देश की 10 सबसे बेहतर कंपनियां, यहां देखिए पूरी लिस्ट
June 20, 2021: Over 10,000 organisations from 60 countries have been evaluated by the Great Place to Work institute as they strive to improve workplace culture and practices. Aye Finance has ranked 4th amongst India’s best places to work for.
Fintech lender Aye Finance appoints Mayank Thatte as CFO June 1, 2021
June 01, 2021: Mayank has over 19 years of experience working with leading organizations in the BFSI space. In his new role, he will be responsible for strengthening the financial and regulatory reporting as well as driving operational transformation.
If 2020 was the year of disruption, 2021 is the year of transition: Ankur Sharma, Aye Finance
May 28, 2021: Ankur Sharma, Head of HR, talks about relooking the employee experience in the light of the pandemic, and what comes next in the transitioning times. “Aye Leadership has decided that even our COVID-specific benefits must extend beyond the pandemic and set a precedent for a better understanding of wellness benefits at the workplace,” he says.
How To Get A Business Loan, Sanjay Sharma, MD
May 3, 2021: Business loans are indispensable in catalyzing the expansion and diversification of businesses. This authored article breaks down the ways of procuring business loans for the reader and attempts to create an understanding of the process and the various aspects that come into play.
Interview with Gaurav Khurana, CTO, Aye Finance
March 31, 2021: Gaurav shares his take on the deployment of AI and Machine Learning in the FinTech industry and future of the CTO rule in the coming times.
Aye Finance to hire over 1500 people, will cover vaccination cost for all its employees
March 30, 2021:Ankur Sharma, Head of HR at Aye talks about the company’s HR initiatives during the pandemic, from covering the vaccination cost of almost 4000 employees to following monthly roster systems and onboarding over 1500 employees over the next year.
Aye: Putting AI In Finance Since 2014
March 3, 2021: In a short span of time Aye has developed and deployed AI/ML solutions in most of our critical business processes. We use artificial intelligence to drive non-linear growth, enhance efficiency and profitability through digitalisation and embed state-of-the-art data-driven decision-intelligence across all key business processes.
Aye Finance appoints new CTO: Gaurav Khurana joins Aye Finance from Hero Housing Finance
March 1, 2021: Gaurav has over two decades of IT leadership experience in companies like Hero Housing, Religare Group and Max Life Insurance Company. At Aye, he will be responsible for designing & implementing a technology stack and driving the adoption of new-age technologies across the business spectrum.
Ujual George joins as Chief Risk officer at Aye Finance Pvt Ltd.
Jan, 2021:Ujual brings with him an experience of two and a half decades of Leadership roles in the BFSI sector. At Aye Finance he would be responsible to drive risk management capabilities and drive operational transformation.
Jan, 2021: The outlook for 2021 will be predominantly about COVID-19 after-effects and new avenues of innovation in products, processes, and technologies. The year and beyond will now test the resilience of the business models and prudent strategic initiatives of the industry players which will drive growth.
Why this MSME lending startup believes it can grow big by lending to micro-enterprises
Dec, 2020: The outlook for 2021 will be predominantly about COVID-19 after-effects and new avenues of innovation in products, processes, and technologies. The year and beyond will now test the resilience of the business models and prudent strategic initiatives of the industry players which will drive growth.
Dec, 2020: Over the last decade or so AI and Machine Learning has become relevant almost to the degree of indispensability to forward thinking organizations across industries. As always Financial Services have been among the frontrunners in adoption and deployment across most if not all aspects of their business.
Sep, 2020: The growing world of MSME lending is also deriving value from the advancements being made in AI. They are using machine learning to make improved lending decisions in the absence of business documentation by consolidating data points from various social and demographic sources.
Sep, 2020: In the fintech space, one of the startups to have bagged big-ticket funding during the lockdown is lending company Aye Finance. From the second round of investment from Google’s investment fund Capital G to fresh funds from Germany-based impact investor, Invest in Vision, the last few months have kept the six-year-old startup busy.
Aye Finance Revenue Surges 2X In FY20 Making it the Third Straight Profitable Year
Sept 2020: Gurugram-based financial services startup Aye Finance doubled its revenues and increased its loan book from 1,047 Cr to 1,800 Cr in the financial year 2020, the company’s cofounder and managing director Sanjay Sharma revealed.
A lot of uncertainty next year but Aye Finance will remain profitable: MD Sanjay Sharma
August, 2020: Gurugram-based Aye Finance Pvt. Ltd managed to raise funding in the coronavirus pandemic.
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Samir Mehta joins Aye Finance as its deputy CEO.
August, 2020: Samir has over 22 years of experience, working with leading players in the BFSI sector, and is an alumnus of the Indian Institute of Management (Lucknow) and National Institute of Technology (Kurukshetra). His focus will be to scale up business and implement strategies to enhance performance and capabilities.
Aye Finance to open up lending tap in July to micro enterprises
July, 2020: Aye Finance, a new-age non-banking finance company, is hopeful of clocking 25-30 per cent growth in its overall loan portfolio this fiscal year provided things settle down on the Covid-19 front by September, a top official said.
July, 2020: During the pandemic we have maintained contact with our customers through our in-house Customer Service Tele calling team, which has been educating the customers on the benefits of meeting their EMI obligations along with providing them guidance and information through this time of disruption
Unless banks start lending, NBFCs are going to be in trouble: Ashish Sharma, CFO, Aye Finance
June, 2020: Covid-19 was a big shock for the NBFC industry that was emerging from a slowdown and a liquidity crunch from last year. Looking at the uncertainty, Aye Finance CFO is optimistic about the future, trust the resilience of its customers but still fears the unprecedented times. Meanwhile, he has also reduced his fundraising plans by 50% for this financial year.
June, 2020: Covid-19 was a big shock for the NBFC industry that was emerging from a slowdown and a liquidity crunch from last year. Looking at the uncertainty, Aye Finance CFO is optimistic about the future, trust the resilience of its customers but still fears the unprecedented times. Meanwhile, he has also reduced his fundraising plans by 50% for this financial year.
May, 2020: The Government of India announced a broad set of fiscal stimulus measures to stabilize Indian economy affected by the pandemic. We too have offered our customers a moratorium on our loans as per the company policy and are also designing credit offerings that will be of value to our customers.
Priority is to service repeat customers and then look at new business: Sanjay Sharma, Aye Finance
May, 2020: For new businesses we will look at where businesses have stabilized and there are segments where the effects are lesser as a lot of our branches are in green zones.
Priority to service repeat customers and then look at new business.
April, 2020: The 60 million micro enterprises that contribute 37% of GDP, employ over 110 million people and grow faster than our rate of GDP growth, are now at an existential challenge. If the problem is not managed effectively, there could be a significant part of these micro MSMEs may have to shut shop
April, 2020: The next two quarters will be a test of resilience for large as well as small businesses across India. NBFCs that have invested in the delinquency management system and automation and who have a clear process for managing delinquencies will be less impacted.
MSME lender Aye Finance raises Rs 180 crore
April, 2020: Rs 180 crore was raised in debt over a period of 15 days from lenders in India and abroad. The fund raise comes amidst India being in a 21-day lockdown which has severely impacted economic activity and has caused disruption to MSMEs
MSME lender Aye Finance announces expansion plans for FY 21
March 2020: After covering 5,500 pin codes in India across the length and breadth of the country, Aye plans to expand to 2,000 additional pin codes by the end of FY 2021. The fintech lender says it is well placed to embark on its next phase of growth.
Aye sets up not-for-profit company
June 2019: Aye Finance, a non-banking finance company focussed on lending to micro enterprises, has set up a not-for-profit company, FAME (Foundation for Advancement of Micro Enterprises). It proposes to run its Corporate Social Responsibility (CSR) interventions through this entity.
Aye Finance reaches 1000 cr in AUM
April 2019: Aye Finance, a CapitalG-backed fintech lender to the MSMEs has reached ₹1,000 crore Asset Under Management (AUM) milestone within five years of inception.
Aye Finance raises ₹234 cr in Series D funding
March 2019: MSME lender Aye Finance has raised ₹233.62 crore in Series D equity round, led by New York-based investment firm Falcon Edge Capital.
Existing investors, CapitalG, LGT and MAJ Invest, also participated in this round.
Aye Finance raises $10 million debt from responsAbility
Jan 2019: Aye Finance raises $10million in debt funding from responsAbility Investments AG and Northern Arc Capital through the issuance of non-convertible debentures.
Aye finance aims big on micro enterprise lending
Jan 2019: Aye Finance is aiming to grow their loan book to INR 5,000 Crores in the next 5 years.
Aye Finance raises ₹20 cr via NCDs
December 2018: In a deal syndicated by Northern Arc Capital, Aye Finance raised Rs 20 Crores in Non-Convertible Debentures to offer affordable and customized credit solutions to MSMEs in India.
Aye Finance raises Rs 70 crore in debt from BlueOrchard
November 2018: Aye Finance, a Gurgaon-based digital lending startup for small and medium businesses, has raised Rs 70 crore in debt funding from social impact fund BlueOrchard to help expand to newer geographies in the hinterland and disburse more actively to its existing borrower base.
Aye Finance: This startup claims to have grown 350% annually, plans pan India expansion
October 2018: Fintech player AYE Finance was founded in 2014 by Sanjay Sharma and Vikram Jetley to transform micro and small scale enterprise lending in India. Four years into its existence, the start-up claims to have grown at an amazing compounded annual rate of over 350% in the last three years.“We will continue to grow at a rate of 100% in the next two years,” said Sanjay Sharma, MD & CEO, Aye Finance.
Click moment | We were impressed by the resilience of the MSME segment, says Sanjay Sharma
August 2018: Sanjay Sharma says he was impressed by the resilience of MSME segment and how it had managed to stay afloat and contribute to the Indian economy, despite battling inaccessible funding and repayment challenges
Aye Finance raises $10 million debt from Triple Jump, MicroVest
July 2018: Aye Finance has raised $10 million (INR 68.7 Crore) in debt funding from global impact investment managers, Triple Jump BV and MicroVest Capital Management, LLC!
This is the 10th round of funding for Aye Finance this year, bringing our cumulative debt funding to INR 255 Crore since January this year.
Aye Finance raises $22 million from CapitalG, SAIF Partners, LGT
June, 2018: Aye Finance raises $22 million in its Series C round of funding, led by CapitalG, the venture capital fund owned by Alphabet Inc.
Aye Fin says it Disbursed 60,000 Loans
May 2018: Aye Finance has disbursed 60,000 loans since its inception in 2014, to micro and small enterprises giving out a total of Rs 700 crore.
Aye Finance raises Rs 30 crore in debt from SBI
May, 2018: Aye Finance has raised Rs 30 crore in a fresh round of debt funding from SBI.
Fintech Players rely on AI to build Credit Scores for Disbursal of Loans
May 2018: Aye Finance’s credit assessment method is based on data points from industry-specific clusters.
Aye Finance gets Rs 30 crore from Swiss Investor
April, 2018: Aye Finance is the latest to raise a fresh round of Rs 30 crore from Swiss-based impact investor BlueOrchard Finance. BlueOrchard has already invested more than Rs 100 crore in Aye Finance since 2017.
Banks Board Bandwagon with Funds for eLenders
February 2018: A more sustainable form of business created by Aye Finance, having built a book of Rs 450 crore.
Aye Finance raised Rs 25 crore from Hinduja Finance and Intellegrow
February 2018: Aye Finance raised Rs 25 crore through a securitization deal from investors including Hinduja Leyland Finance and IntelleGrow. The deal was facilitated by Vivriti Capital.
IFMR Capital Puts Rs 40 cr in Aye Fin
January 2018: Aye Finance has raised Rs 40 crore in debt funding from IFMR Capital.
Aye Finance raises $7mn from Netherlands’ Triodos Investment
January 2018: Netherlands based Triodos Bank has subscribed to INR 44 crore NCD issue of Aye Finance.
Symbiotic Leads Rs 32 cr Debt Funding in Aye
November 2017: Geneva-based development finance institution Symbiotics Group has led a Rs 32 crore debt funding round in micro and small sector lender Aye Finance.
Aye Finance Wants to Mop up $25-40 million in Next Round
October 2017: Aye Finance wants to mop up $25-40 million in next round to fuel its expansion plans.
M&M Fin Services Says Aye For Rs.10 Cr
July 2017: Aye Finance, a startup focused on giving loans to small and medium enterprises, has raised Rs 10 crore by selling part of its SME loan portfolio under a securitisation deal to Mahindra & Mahindra Financial Services. The deal was facilitated by IFMR Capital.
Aye Finance bags $8 mn from Blue Orchard
May 2017: Aye Finance was recently featured in The Economic Times and Times of India, in relation to the new funds raised via Blue Orchard, a leading global impact investment manager.
Aye Finance receives Rs 20 cr. funding from SBI
May 2017: Aye Finance on Wednesday announced receiving of Rs. 20 crore from State Bank of India for on-lending and getting approvals for sanctioned credit facilities.
Aye finance empowers expansion of south Indian MSMEs
April 2017: In order to empower the expansion of the Indian MSME sector , Aye Finance is delivering business loans against mortgage or simple hypothecation accessible to India’s thriving and underserved MSME sector.
How GST will reshape the Indian startup industry
April 2017: Seen as one of the biggest tax reforms post independence in 1947, the Goods and Services Tax (GST) is set to bring forth unprecedented transformation of the Indian economy. There is a lot of conjecture around whether our markets are strong enough to sustain the impact of a radical change of this magnitude, even when the country is reeling from the after effects of demonetization.
AYE Finance featured in Hindustan Times – Lucknow
August 2016: To provide business loans to micro, small and medium enterprises (MSMEs), Gurgaon-based Aye Finance is aggressively focusing on the UP market.
AYE Finance closes Rs 70 crore funding round led by LGT Impact Ventures
November 2016: 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.
MSME lender Aye Finance raises $1 million funding from Accion and SAIF Partners
February 2015: 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).
Accion and SAIF Partners co-invest in India based Aye Finance
February 2015: 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.
After CapitalFloat, now Aye Finance bags funding to provide loans to startups in India
December 2015: 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.
NBFC Aye Finance raises Rs 20 crore in new round of funding
February 2015: 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.