In a Series F investment round headed by British International Investment (BII), Aye Finance secured INR 310 Cr. A91 Partners, an existing shareholder in Aye, and the Waterfield Fund of Funds also took part in the round.
In the first half of FY24, the company provided INR 80 Cr of PAT, and it states that it holds over INR 3,600 Cr in assets under management (AUM). The only financial advisor to Aye Finance on this deal was Avendus Capital.
“We have been growing consistently for the last two years, so there is a need for equity so that we can leverage our growth. Primarily, the money is for bolstering our portfolio and the lending book. A small part will be invested in expanding our branch network,” Sanjay Sharma said.
In addition, Sharma, the MD and CEO of Aye Finance, stated that the company plans to open 80 more branches in FY24 in addition to its present 395 locations nationwide.
Aye Finance is committed to utilising cutting-edge technology to promote greater financial inclusion and, as a result, provide more comprehensive services to microenterprises throughout the nation.
About Aye Finance
Aye Finance, a new-age financing organisation with its headquarters in Gurgaon, offers business loans to small and micro businesses throughout India.