This Capital G (Google father or mother Alphabet’s funding arm)-backed fintech, which was launched in 2014, has to date introduced over 8 lacs grassroots companies into the folds of organised lending by way of its custom-made and reasonably priced credit score merchandise.
“Our staff at Aye Finance has labored diligently for the final 10 years to disburse ₹10,000 crore of working capital loans to the unorganized micro scale companies throughout India.
In doing this we’ve created a transformational affect on these companies that lie on the backside of the pyramid. This milestone is a matter of nice delight for me and my staff. It clearly exhibits that roads much less travelled are tough however not unattainable for the decided,” Sanjay Sharma, Founder and CEO, Aye Finance mentioned.
Aye Finance is serving the micro SMEs who’re disadvantaged of credit score from conventional monetary establishments utilizing a differentiated cluster-based buyer underwriting / threat administration course of for buyer acquisition.
As of finish December 31,2023, Aye Finance had belongings beneath administration of ₹ 3,600 crore. Its unaudited revenue after tax (PAT) stood at ₹ 110 crores.
In a funding winter, Aye had efficiently closed its Sequence F Fairness Spherical and raised ₹ 310 crore from British Worldwide Funding and others. The MSME Lender had additionally raised ₹,2200 crore of debt from main world in addition to Indian monetary establishments for on-lending.
Aye has marque buyers that help it in its mission to remodel micro enterprise lending – British Worldwide Funding, CapitalG, Elevation Capital, Lightrock, Alpha Wave, A91 Companions and MAJ Make investments.
Gurgaon-headquartered Aye Finance has 396 branches throughout 22 States and has a staff measurement of over 5600+ staff.
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