[Funding alert] Fintech Startup Aye Finance Raises Rs 137 Cr Debt Funding

German Impact Investment and Invest in Visions invested INR 137 Cr to the debt financing of fintech lending firm Aye Finance.

According to an announcement from Aye Finance, the funding was provided by IIV Mikrofinanzfonds and another private fund run by Invest in Visions, with assistance from Agents For Impact (AFI), as reported by Inc42.

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This new funding will improve Aye Finance's ability to provide essential financial support to marginalized MSMEs across India. The announcement further stated that the funding will be utilized to provide these companies with on-lending so they can expand and support economic development.

"This new funding will allow us to reach out to a larger population of micro-enterprises and offer them innovative financial products designed to meet the diverse needs of MSMEs. We are confident that this will enable us to empower even more entrepreneurs and unlock their full potential, ultimately contributing to job creation and economic prosperity across the country," said Krishan Gopal, CFO, Aye Finance.

The firm claims that the partnership between Invest in Visions, Aye Finance, and Agents for Impact would strengthen a financial component in India and empower MSMEs.

About Aye Finance

Founded in 2014 by Sanjay Sharma and Vikram Jetley and headquartered in Gurgaon, ​Aye Finance is a new-age finance company providing business loans to ​​small and micro enterprises across India​.

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