With this spherical, Capital G (Google dad or mum Alphabet’s funding arm)-backed fintech’s fairness elevate totalled ₹1,250 crore.
This Collection G funding spherical was led by Singapore’s ABC Influence, the main Pan-Asia impression investor backed by Temasek and Temasek Belief. This transaction marks the primary funding constructed from ABC Influence’s Fund II. ABC Influence has a rising AUM of over $ 850 million.
This spherical additionally noticed participation from British Worldwide Funding, the UK’s improvement finance establishment and impression investor who led Aye’s Collection F spherical of ₹ 310 Crores in December 2023.
Sanjay Sharma, Founder and Managing Director of Aye Finance, stated, “We’re excited to announce our Collection G fairness spherical. We have now been lucky to have stellar names from the business accomplice with us in our mission to allow monetary inclusion of the underserved phase proper since 2014.
We’re delighted to accomplice with ABC Influence on this spherical and stay up for maximising impression. This capital infusion will allow us to scale our operations and improve our potential to ship worth to our goal phase of micro-enterprises.”
Sugandhi Matta, Chief Influence Officer of ABC Influence, stated, “India is a rustic of micro-entrepreneurs (MSMEs). Nevertheless, this necessary phase of the economic system is considerably underserved by formal credit score. Our partnership with Aye Finance will help these micro-entrepreneurs with higher entry to credit score in order that they will develop their companies and notice their full potential”.
The newest Collection G deal is topic to completion of ordinary circumstances precedent. Aye Finance is a small-ticket lender within the MSME lending panorama, offering working capital loans to micro-enterprises.
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