Aye Finance pockets $37m Series F, upgrading India’s lending scene.

Key Points:

  • Aye Finance, an Indian startup specializing in digital lending to small businesses, has secured $37.18m in an all-equity Series F funding round.
  • The round was led by British International Investment, with contributions from Waterfield Fund of Funds and existing investor A91 Partners.
  • This recent funding brings Aye Finance’s total fundraising to nearly $200m.

Aye Finance is a company devoted to empowering micro enterprises and ensuring financial inclusivity through its lending practices. By offering business loans through means such as mortgage, hypothecation, and term credit, it caters to the unique needs of small businesses, specifically those failing to meet the strict demands of traditional lending groups.

One of the unique aspects of Aye Finance is its utilization of in-house technology and analytics to gauge the creditworthiness of businesses that are overlooked by conventional banking. CEO Sanjay Sharma expressed his belief in the vast potential of lending to underfunded micro businesses and described the recent capital increase as invigorating their company’s growth narrative. He further expressed his pleasure at partnering with British International Investment due to their deep comprehension of the finance sector in India.

This fundraising round serves as testament to investors’ strong belief in a high-quality franchise like Aye Finance. Through their pledge to financial inclusion and their innovative approach to credit assessment, Aye Finance continues to secure solid financial backing and maintain its standing as a dominant entity in the digital lending domain.