[Funding News] Aye Finance Raises $30 Mn Series G Funding Round from ABC Impact

A lending tech startup, Aye Finance, has secured INR 250 Cr (approximately $30 Mn) in a Series G funding round led by Singapore-based impact investor ABC Impact, nearly a month after concluding the loan securitization agreement with Goldman Sachs Finance.

The funding round also included British International Investment (BII), Aye Finance's current investor, which led its Series F funding round of INR 310 Cr in December of last year.

In addition, the most recent transaction represents the inaugural investment from ABC Impact's fund II.

Aye Finance provides small enterprises throughout the nation with affordable business loans. The risk assessment is conducted in the absence of traditional business documents through the use of cluster-based credit assessment with AI algorithms.

Read also - z21 Ventures Raises $20 Mn Funding  

This development occurs at a time when lending firms have captured the attention of investors with their intentions to broaden their services.

For example, Fibe (formerly EarlySalary), a leading technology startup, secured $90 million in its Series E funding round to expand its business, fortify its existing product lines, and diversify its impact loan portfolio.

Aye Finance

Founded in 2014, Sanjay Sharma (Managing Director), Aye Finance is a new-age finance company providing business loans to ​​small and micro enterprises across India​.

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