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Aye Finance raises $17 million from Invest in Vision

7Jul By PriyankaNo Comments

FUNDING

Aye Finance raises $17 million from Invest in Vision

Fintech startup Aye Finance raises $17 million (Rs 125 crore) in debt from Germany-based Invest in Vision, a top official of the company said. The company will use the fund to enhance lending for the micro-enterprise sector, Aye Finance managing director Sanjay Sharma said. "Since our inception in 2014, we have been making affordable loans a reality for the historically credit-starved micro-enterprises of India. We are grateful for the support we receive from Invest in Vision and other debt partners in helping us realize our mission of creating an inclusive India," Sharma said. Aye Finance is a finance company that provides business loans to micro and small businesses has raised a total of $244.4 Million in funding over 22 rounds. быстрый займ на картузайм на карту мгновенно с пл...

20Nov By AdityaNo Comments

FUNDING

Aye Finance Raises $17.43 Million NCD Funding

Fintech startup Aye Finance has raised $17.43 million (Rs 125 crore) funding from Dutch entrepreneurial development bank FMO through the issuance of non-convertible debentures. With this fundraising, Aye plans to expand its outreach in providing credit, specifically to women-owned microenterprises in India, the company said in a statement. "While we have women as co-applicants for over 95 percent of our loans, we believe we can do more in enabling the women micro-enterprises of India bring about a more transformative impact on the economy," Aye Finance MD and founder Sanjay Sharma said. Under the deal, FMO will work with Aye Finance to expand their services to women entrepreneurs in the country through a gender finance programme. "We expanded our branch network this year to Bih...

12Aug By PriyankaNo Comments

FUNDING

Fintech Startup Aye Finance Raises $10 mn from Funding

Fintech company Aye Finance has raised USD 10 million (about Rs 71 crore) in funding from Zurich-based responsAbility Investments AG. The company had received USD 5 million from responsAbility earlier this year. "Aye will be utilising these additional funds to offer business loans to the excluded microenterprise sector to support their growth and enable their inclusion into the formal economy," a statement said. Aye raised USD 5 million from responsAbility through NCDs, while the balance USD 5 million has been issued from a securitisation pool raised by responsAbility that was arranged by JP Morgan. Key investors in this transaction include the Overseas Private Investment Corporation (OPIC) and Alecta. "We have found support from Indian and global leaders in our mission of p...

MSME Lender Aye Finance raises $10 Million

27Jul By AnkitaNo Comments

FUNDING

MSME Lender Aye Finance raises $10 Million

Digital money lending startup, Aye Finance has raised USD 10 million in debt funding from Triple Jump BV and MicroVest Funds, through the issuance of non-convertible debentures. This is the 10th financing round for Aye Finance in the year 2018, the company informed in a statement. Since January, it has cumulatively raised ₹255 crore of debt. The Gurugram-headquartered company, founded in 2014 claims to have disbursed ₹ 850 crore worth loans and catered to 60,000 micro enterprises since inception. With the recent funds raised, the company is gearing up to bolster its lending portfolio and offer affordable business loans to a larger number of microenterprises in India. MD and founder of Aye Finance, Sanjay Sharma mentioned “At Aye, we use various data science methods which are...

20May By Sheldan RungasamyNo Comments

FUNDING

Startups Who Got Funded Last Week

This week featured 9 funding articles amounting to $61.7 million (Rs 410 crores) (excluding two companies as their funding sum was undisclosed). FreightBazaar FreightBazaar, India’s first online portal for truck hiring intended for businesses, recently raised a pre-Series A funding round with Omphalos Ventures India leading the funds of an undisclosed amount. The funds raised will serve the purpose of scaling up operations and expanding its business to several new cities, while also improving its technology to facilitate processes and procedures. Clarity Communications Clarity Communication, a startup focused in PR and celebrity endorsement raised an undisclosed amount of funding from Atraxn Partners. The funds will serve to f...

15May By NitishNo Comments

FUNDING

Lending Firm Raises 30 Crore Debt Funding From SBI

Gurugram based fintech platform Aye Finance raises another Rs. 30 crores debt funding from India's leading public sector bank State Bank of India (SBI). 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 pro...

13Apr By Sheldan RungasamyNo Comments

FUNDING

FinTech Firm Aye Finance Raises Funding

Aye Finance, the FinTech platform based in Gurugram raised a funding round of Rs 30 crores as debt financing from BlueOrchard Finance Ltd, an impact investor based it Switzerland. The funds raised will serve the purpose of diversifying the lending portfolio of Aye Finance which will allow it to reach out to the large pool of micro, small and medium-sized enterprise (MSME) in India. 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 them products at their own conditions. We are going to utilise the latest infusion of funds to increase our reach to bring the "missing middle" into the fo...