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Aye Finance Raises INR 250 Cr Debt Funding To Fuel MSME Lending

Inc42 · 1y ago

Aye Finance Raises INR 250 Cr Debt Funding To Fuel MSME Lending

Aye Finance has secured debt funding from Dutch entrepreneurial development bank FMO. The funding will be used to provide loans to underserved micro, small, and medium enterprises in India. Aye Finance has already disbursed loans worth over INR 10,000 Cr to more than 8.67 Lakh customers so far.

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Aye finance raises INR 310 Cr to expand geographies

Inc42 · 2y ago

Aye finance raises INR 310 Cr to expand geographies

Aye Finance, a lending tech startup, has raised INR 310 Cr in a Series F funding round led by British International Investment (BII). The funds will be used to strengthen their lending portfolio, expand their branch network, and support their growth. Aye Finance offers affordable business loans to microenterprises in India using AI algorithms for credit assessment. They aim to open 80 more branches in the next financial year. This funding round comes after the company raised over INR 550 Cr in debt funding in the last quarter of 2022.

Aye Finance Bags INR 250 Cr From Singapore’s ABC Impact, Others To Bolster Its MSME Lending Play

Inc42 · 1y ago

Aye Finance Bags INR 250 Cr From Singapore’s ABC Impact, Others To Bolster Its MSME Lending Play

Lending tech startup Aye Finance has raised INR 250 crore ($30 million) in a Series G funding round led by Singapore-based investor ABC Impact. Existing investor British International Investment also participated in the round. The funding will help Aye Finance expand its operations and serve micro enterprises more effectively.

Aye Finance Secures INR 137 Cr Debt From German's Invest In Visions

Inc42 · 1y ago

Aye Finance Secures INR 137 Cr Debt From German's Invest In Visions

Fintech lending startup, Aye Finance, has raised a debt funding of INR 137 crore from Germany-based Invest in Visions. The funds will be used to facilitate financial assistance to underserved micro, small, and medium enterprises (MSMEs) in India. Aye Finance plans to use the funds for on-lending purposes, aiding the growth of these businesses and contributing to economic development. The collaboration between Aye Finance, Invest in Visions, and Agents for Impact aims to empower MSMEs and enhance financial inclusion in India. Aye Finance has provided over INR 10,000 crore in loans to small businesses and reports an active client base of more than 450,000 micro enterprises.

Aye Finance Closes INR 212 Cr Loan Securitisation Deal With Goldman Sachs

Inc42 · 1y ago

Aye Finance Closes INR 212 Cr Loan Securitisation Deal With Goldman Sachs

Lending tech startup Aye Finance has closed a INR 212 Cr (over $25 Mn) business loan securitisation deal with Goldman Sachs (India) Finance. The deal will support the expansion of Aye Finance's lending operations to micro enterprises throughout India. The securitization deal, backed by a portfolio of business loans to micro enterprises, will enhance Aye Finance's asset and liability management position.

Gurugram's NBFC firm Aye Finance raises $16.2M in debt from German impact investors

IndianStartupNews

IndianStartupNews · 1y ago

Gurugram's NBFC firm Aye Finance raises $16.2M in debt from German impact investors

Aye Finance, an Indian NBFC, has raised $16.2 million in debt funding from IIV Mikrofinanzfonds and Invest in Visions. The funds will be used to expand lending to underserved MSMEs in India. Aye Finance aims to empower entrepreneurs and contribute to job creation and economic prosperity. Aye Finance has disbursed over Rs 10,000 crore in loans to over 450,000 micro-enterprises and has assets under management of over Rs 4,000 crore. The company uses cluster-based credit assessment and AI algorithms to offer affordable business loans.

Lendingkart posts Rs 118 Cr profit after tax in FY23

Entrackr

Entrackr · 2y ago

Lendingkart posts Rs 118 Cr profit after tax in FY23

Lendingkart, the MSME-focused digital lending platform, reported its first-ever profits of INR 118 crore in the fiscal year ending March 2023. The firm's revenues grew by 29.5% to INR 798 crore in FY23, with interest received from loans forming 51% of its operating revenue. Lendingkart's expense breakdown included a flat finance cost of INR 250 crore, while employee benefit costs increased by 57%. The company's deep cost-cutting measures resulted in a notable profit in FY23, compared to a loss in the previous fiscal year.

Aye Finance's net profit grows 2.8X to Rs 161 Cr in FY24

YourStory

YourStory · 1y ago

Aye Finance's net profit grows 2.8X to Rs 161 Cr in FY24

Indian non-banking finance company Aye Finance reported a nearly tripled profit after tax of INR 161 crore ($21.8m) in the 2023-24 fiscal year. The lender's revenue increased by 67% to INR 1,072 crore, while assets under management rose to INR 4,400 crore. Aye Finance focuses on providing unsecured small-ticket loans to micro enterprises in India, and has disbursed over INR 12,000 crore to more than 900,000 businesses since it was founded in 2014. Aye Finance is backed by a range of investors including CapitalG, Elevation Capital, and A91 Partners.

Aye Finance set to secure Rs 250 crore in a fresh round

Economic Times

Economic Times · 1y ago

Aye Finance set to secure Rs 250 crore in a fresh round

Gurugram-based non-banking finance company Aye Finance is raising Rs 250 crore in a funding round led by ABC Impact and backed by Temasek. The round, which increases Aye Finance's net worth to Rs 1,250 crore, will focus on financing loans for micro and small enterprises and further automating processes. The company, which plans to file draft papers for a public listing, operates on a cluster-lending model and caters to industries like textiles, dairy, manufacturing, and trading. Aye Finance's assets under management totalled Rs 4,670 crore, with an average loan of around Rs 1 lakh.

Prashant Pitti’s Optimo Capital raises Rs 100 Cr from PNB

Entrackr

Entrackr · 1d ago

Prashant Pitti’s Optimo Capital raises Rs 100 Cr from PNB

Prashant Pitti’s Optimo Capital raises Rs 100 Cr from PNB Optimo Capital, a technology-led NBFC focused on MSME lending, has secured Rs 100 crore in debt funding from Punjab National Bank and entered into a co-lending partnership with Godrej Finance Limited to disburse Rs 200 crore over the next 12 months. The development comes six months after the company raised Rs 150 crore in equity funding led by Blume Ventures and Omnivore, with participation from founder Prashant Pitti. Optimo offers digital secured loan-against-property (LAP) products for MSMEs, targeting borrowers who face challenges in accessing formal credit despite owning collateral. Its lending infrastructure is built on a dataset of over 77 lakh mortgage and property transaction records, along with AI-led property inspection and valuation systems. The platform also enables in-principle loan sanctions within a few hours. The company currently manages over Rs 430 crore in assets under management and maintains gross NPAs below 0.7%. It has been profitable for the past 22 months, generating monthly profits in the range of Rs 2–3 crore. Optimo recently received a BBB (Stable) rating from CARE Ratings. Optimo operates 51 branches across Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Madhya Pradesh, focusing on MSME borrowers in semi-urban and rural markets. It employs over 500 people across functions. The partnership with Godrej Finance is expected to expand Optimo’s lending capacity, while the debt infusion from Punjab National Bank will support balance sheet growth.

Exclusive: InCred Finance Bags INR 400 Cr Debt Funding From Morgan Stanley, Others

Inc42 · 8m ago

Exclusive: InCred Finance Bags INR 400 Cr Debt Funding From Morgan Stanley, Others

InCred Finance, the lending arm of InCred Group, secured INR 400 crore (approximately $46.8 million) in debt funding from Morgan Stanley, Nippon Life India, and others, with equity funding of INR 40 crore from its parent company. The funding was raised through the issuance of non-convertible debentures. This capital infusion comes as InCred Finance prepares for an upcoming IPO, targeting a raise of INR 4,000 crore to INR 5,000 crore later this year.

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