Earlier Aye Finance raises Rs 30 crores as debt financing from BlueOrchard Finance Ltd. Also, this is the second time that the SBI has extended a debt facility to Aye to lend more money to micro and small-scale enterprise financing in India.
Aye finance is equity funded by three marque investors Accion, SAIF Partners, and LGT. The lending firm is looking to raise additional USD 20-25million by the end of the current quarter.
Aye presently provides its service to over 10 states and boasts 72 branches in India so far. In the FY 17-18, it provided over 40,000 loans which were largely thanks to the customization of their products to meet the micro entrepreneur’s needs and provide the products under their own conditions.
It is setting new standards in building a quality loans portfolio in an inclusive manner and is well on its way of achieving its vision of being the most admired and a leader in the micro and small business lending space.