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    Aye Finance raises debt funding worth Rs 80 crore

    Synopsis

    ​​The MSME lender plans to utilise the latest infusion of funds for further growing its lending portfolio.

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    Since its inception in 2014, Aye claims to have disbursed over Rs 2200 crores to 1,50,000 micro enterprises.
    New Delhi: Capital G backed fintech lender, Aye Finance has raised Rs 80 crore debt funding from an undisclosed investor.

    The MSME lender plans to utilise the latest infusion of funds for further growing its lending portfolio. This funding comes within a month of the news of the fintech lender raising Rs 55 crore from DCB Bank.

    So far, Aye claims to have disbursed over Rs 2200 crores to 1,50,000 micro enterprises since its inception in 2014.

    Speaking on the unique strength of the lender, Sanjay Sharma, founder and managing director, Aye Finance, said in a statement, “I believe the turmoil currently underway in the NBFC Sector will separate the sustainable and sound business models from the rest. Aye has remained unaffected and continues to find support from investors in India as well as globally in its mission to transform micro enterprise lending."

    Within a span of 5 years, Aye has transitioned from a startup to a mid-sized company. In the last 6 months, it opened 67 new branches and expanded its presence to 171 branches in 18 Indian States / UT.

    Last financial year it closed 2 equity rounds – Series C and D, raised INR 380 crores, and added CapitalG, Falcon Edge and MAJ Invest to its suite of investors.
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