Aye Finance Raises ₹210 Crore In Series E Round Led By CapitalG
Companies
Aye Finance, an MSME sector lender, has raised ₹210 crore in Series E funding led by CapitalG, Alphabet’s independent growth fund. The round also saw participation from Aye’s existing investors LGT Lightstone, Falcon Edge Capital, A91 Partners and MAJ Invest.
With this investment, Aye’s total equity funding since inception exceeds ₹690 crore, the company said in a statement.
“Difficult times are a true test of a good lender and we have already started showing significant improvements in customer repayments in the past months. Our loans are underwritten with cluster insights and this continues to assure good repayment behaviour in our portfolio,” Sanjay Sharma, Managing Director at Aye Finance, said.
“This equity investment will further add to liquidity that will enable us to emerge strong from the Covid crisis and continue to benefit millions of micro-enterprises across India,” he added.
Since inception in 2014, Aye has disbursed ₹3,000 crore. The lender provides mortgage, hypothecation and term loan services to micro enterprises.
“We first invested in Aye in 2016 and over the years we have seen them grow into an institution with strong focus on impact and scalability. The relevance of Aye in the post-Covid economy in serving the financing needs of micro businesses is significant,” Kartik Srivatsa, Managing Partner of LGT Lightstone Aspada, said.
Published on
June 24, 2020
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Aye Finance, an MSME sector lender, has raised ₹210 crore in Series E funding led by CapitalG, Alphabet’s independent growth fund. The round also saw participation from Aye’s existing investors LGT Lightstone, Falcon Edge Capital, A91 Partners and MAJ Invest.
With this investment, Aye’s total equity funding since inception exceeds ₹690 crore, the company said in a statement.
“Difficult times are a true test of a good lender and we have already started showing significant improvements in customer repayments in the past months. Our loans are underwritten with cluster insights and this continues to assure good repayment behaviour in our portfolio,” Sanjay Sharma, Managing Director at Aye Finance, said.
“This equity investment will further add to liquidity that will enable us to emerge strong from the Covid crisis and continue to benefit millions of micro-enterprises across India,” he added.
Since inception in 2014, Aye has disbursed ₹3,000 crore. The lender provides mortgage, hypothecation and term loan services to micro enterprises.
“We first invested in Aye in 2016 and over the years we have seen them grow into an institution with strong focus on impact and scalability. The relevance of Aye in the post-Covid economy in serving the financing needs of micro businesses is significant,” Kartik Srivatsa, Managing Partner of LGT Lightstone Aspada, said.
Published on
A letter from the Editor
Dear Readers,
The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill.
In these difficult times, we, at BusinessLine, are trying our best to ensure the newspaper reaches your hands every day. You can also access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute.
But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.
I appeal to all our readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. You can help us by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section.
Our subscriptions start as low as Rs 199/- per month. A yearly package costs just Rs. 999 – a mere Rs 2.75 per day, less than a third the price of a cup of roadside chai..
A little help from you can make a huge difference to the cause of quality journalism!
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