Google’s Investment Firm leads $22 Mn Funding in Aye Finance
Capital G, the growing arm of Google's parent company Alphabet has led a $22 million (Rs 147 crore) funding round in a microlending platform Aye Finance, a move that marks company first bet in the Indian financial sector.
The Series C funding round witnessed participation from investors such as LGT and SAIF partners. The is the first equity funding for the Gurugram based Aye Finance which has so far raised Rs 200 crore from venture capital firms, while an additional Rs. 500 crore from debt and equity firms.
Aye Finance that claims to be the first fintech company to raise capital from CapitalG competes with Lendingkart, InCred, Capital Float, Indifi Technologies, and many others.
Aye Finance will be utilising the funds to strengthen its business operations and technology. It is als...