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.
Read also – [Funding alert] Grocery Retail Network SuperK Secures $6 Mn Series A Funding
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.
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.
