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Aye Finance set to secure Rs 250 crore in a fresh round
Economic Times
·
10m ago
Medial
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.
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Aye Finance pockets Series G cheque from Temasek-backed impact investor
VCCircle
·
10m ago
Medial
Aye Finance has raised Rs 250 crore ($30 million) in a Series G funding round led by Singapore's ABC Impact, the pan-Asia impact investor backed by Temasek and Temasek Trust. The UK's British International Investment (BII) also participated in the round. Aye Finance offers working capital loans to micro, small, and medium-sized enterprises (MSMEs) and currently has a network of 478 branches. The company's assets under management have increased to Rs 4,400 crore as of March 31 and it reported a 67% rise in revenue in FY24.
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Aye Finance Bags INR 250 Cr From Singapore’s ABC Impact, Others To Bolster Its MSME Lending Play
Inc42
·
10m ago
Medial
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.
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Aye Finance raises $30 Mn in Series G round
Entrackr
·
10m ago
Medial
Microlending platform Aye Finance has raised Rs 250 crore ($30 million) in a Series G round led by Singapore’s ABC Impact. The round also saw participation from British International Investment, the UK’s development finance institution and impact investor which led Aye’s Series F round of Rs 310 crore ($37 million) in December 2023. In June this year, the company also raised $30 million in debt. This investment is the first from ABC Impact’s Fund II and boosts the firm’s assets under management (AUM) to over $850 million. The deal completion is subject to completion of standard conditions precedent. With this round, Aye’s equity raise totals Rs 1,250 crore ($150 million). With more than 398 locations operating in 22 states around India, Aye Finance offers financial services to micro and small enterprises, the majority of which are involved in manufacturing, trading, and service industries. Aye Finance offers three loan products with values ranging from Rs 50,000 to Rs 1,000,000: quasi-mortgage loans, hypothetical loans, and add-on loans. The firm claims that it has already extended over 7,600 crore ($915 million) in loans to more than 5,76,000 businesses with a 60% repeat rate. Aye Finance’s revenue from operations grew 44.5% to Rs 623 crore during FY23 with a profit of Rs 54 crore. In FY24, the company claims that its profit grew 3 times to Rs 161 crore and revenue was up 67% to Rs 1072 crore. The company ended FY24 with assets under management (AUM) of Rs 4,500 crore and a gross NPA of 1.21%. It competes with several NBFCs including Indifi, Axio (formerly Capital Float), Lendingkart, Flexiloans and others.
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Aye Finance gets Sebi nod for Rs 1,450 crore IPO
Business Today
·
4m ago
Medial
Aye Finance Ltd, a Gurugram-based NBFC, received SEBI approval for a Rs 1,450 crore IPO, comprising a fresh issue of Rs 885 crore and an OFS of Rs 565 crore. Key stakeholders involved in the OFS include LGT Capital Invest Mauritius PCC and CapitalG LP. The proceeds will enhance the capital base and support growth. Targeting micro-scale MSMEs, Aye Finance serves diverse sectors with secured and unsecured loans, backed by a robust service portfolio.
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GK Energy, BlueStone & 2 other firms get SEBI's nod to launch IPOs
Inshorts
·
4m ago
Medial
Anthem Biosciences, Aye Finance, GK Energy and BlueStone Jewellery and Lifestyle received approval from SEBI to raise funds through IPOs. The four companies applied for their IPOs in December 2024. The IPOs will contain fresh issue of shares worth ₹3,395 crore for Anthem Biosciences, ₹1,000 crore for BlueStone Jewellery, ₹885 crore for Aye Finance and ₹500 crore for GK Energy.
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BII leads Series F round of MSME lender Aye Finance
VCCircle
·
1y ago
Medial
Micro-enterprise lender Aye Finance has raised Rs 310 crore ($37.2 million) in a Series F funding round led by British International Investment (BII), a UK-based development finance institution. The funding round also saw participation from The Waterfield Fund of Funds and existing shareholder A91 Partners. Aye Finance provides loans to micro, small, and medium-sized enterprises, primarily offering mortgage, hypothecation, and term loans. The new funding will support the company's growth as it aims to expand its lending services to underserved microenterprises.
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Gurugram's NBFC firm Aye Finance raises $16.2M in debt from German impact investors
IndianStartupNews
·
1y ago
Medial
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.
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Aye files DRHP for Rs 1,450 Cr IPO; largest backer Elevation skips OFS
Entrackr
·
7m ago
Medial
Capital G-backed microlending platform Aye (formerly Aye Finance) has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) on Monday. According to the DRHP, the company aims to raise a total of Rs 1,450 crore through its IPO. This includes a fresh issue of equity shares worth Rs 885 crore (approximately $105 million) and an offer for sale (OFS) amounting to Rs 565 crore (approximately $67 million). LGT Capital and Capital G will divest Rs 150 crore and 136.8 crore worth of shares in OFS (offer for sale), respectively, while A91 Fund and Alpha Wave will offload Rs 100 crore each in the secondary sale. MAJ Invest, along with Harleen Kaur Jetley and Vikram Jetley, will sell Rs 78 crore worth of shares at the same time. Notably, Elevation Capital, being the largest shareholder, is not participating in Aye Finance's offer for sale. The equity shares offered through the RHP are proposed to be listed on the BSE and NSE with the help of lead managers like Axis Capital, IIFL Capital, JM Financial, and Nuvama Wealth Management. Aye Finance offers three loan products with values ranging from Rs 50,000 to Rs 1,000,000: quasi-mortgage loans, hypothetical loans, and add-on loans. It operates across 398 locations in 22 states in India, providing financial services to micro and small enterprises, primarily in manufacturing, trading, and service industries. As per RHP, Elevation Capital (formerly SAIF Partners) is the largest external stakeholder with 16.19% followed by LGT Capital and Alpha Wave which hold 14.13% and 11.21%, respectively. Other notable investors include CapitalG at 10.26%, BII at 9.51%, and A91, which holds 9.23% in the company. During the previous fiscal year (FY24), Aye recorded a revenue of Rs 1,040 crore with profits standing at Rs 172 crore in the same period. Moreover, the first half of the ongoing fiscal year (H1FY25) has been impressive for the company, where it posted a revenue of Rs 692 crore with a profit of Rs 144 crore. The company ended FY24 with assets under management (AUM) of Rs 4,463 crore, while its AUM grew to Rs 4,980 crore H1FY25. According to startup data intelligence platform TheKredible, Aye Finance has raised Rs 2,610 crore (more than $300 million) in total funding including Rs 1,250 crore ($150 million) in equity. It competes with several NBFCs including Indifi, Axio (formerly Capital Float), Lendingkart, Flexiloans and others.
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Aye Finance's net profit grows 2.8X to Rs 161 Cr in FY24
YourStory
·
1y ago
Medial
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.
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Aye Finance Secures INR 137 Cr Debt From German's Invest In Visions
Inc42
·
1y ago
Medial
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.
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