Gurugram-based Aye Finance raises ₹55 crore from DCB Bank to grow loan book, credit solutions

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

Aye Finance, a Gurugram-based financial technology startup, has secured a debt funding of ₹55 crore from DCB Bank to grow its loan book and credit solutions.

The platform will utilize the infuse funds to grow its loan book and offer affordable and customised credit solutions to the credit starved micro-enterprises in India.

“The support we receive from our debt partners allows us to continue on our mission of providing inclusive finance to the micro-enterprise sector and power their growth. We look forward to further strengthening our relationship with DCB Bank,” Sanjay Sharma, Managing Director, Aye Finance said.

Aye Finance was founded by Sanjay Sharma and Vikram Jetley in 2014. The company provides financial services to micro and small businesses in Northern India.

It secured Rs 233.62 crore in a Series D equity round led by New York-based investment firm Falcon Edge Capital, in March 2019.

While, the company has disbursed over Rs 2,000 crore loan in five years to over 1,25,000 under-served and under-banked grass root businesses. Its assets under management currently stand at Rs 1,200 crore.

The company has also raised over Rs 480 crore in equity and approximately Rs 1,100 crore through a variety of debt instruments since its inception.

Some of the significant startups in the same space includes Indifi Technologies, Kissht, Vistaar, Intech, i-Lend, Lendbox, and many more.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

‘Hema Malini’s cheeks’ and ‘eagles and crows’ in MP

By Sundeep PouranikBhopal, Oct 17 (IANS) Some recent statements by Madhya Pradesh politicians have crossed the limits by citing...

‘Pak seems reluctant to complete bridge to Kartarpur Sahib’

BY RAJNISH SINGHDera Baba Nanak (Punjab), Oct 17 (IANS) A bridge that would play a major role in connecting India and Pakistan's sides of...

Turkey’s Syria offensive brings ‘human suffering’: Merkel

Berlin, Oct 17 (IANS) German Chancellor Angela Merkel called on Turkey to stop its military operation in Syria in her speech in the federal...

State finances show worrying trend: Report

New Delhi, Oct 17 (IANS) Reflecting slowdown in the economy, monthly finances of 17 state governments show worrying trend with total receipts growing only...

J&K Legislative Council abolished

New Delhi, Oct 17 (IANS) The Jammu & Kashmir administration on Thursday abolished the Legislative Council ahead of bifurcation of the erstwhile state into...
- Advertisement -

More Articles Like This