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.
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.