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

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Source: Google

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.


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