Aye Finance, Capital G backed fintech lender, raises Rs 87 crore as debt funding from BlueOrchard managed funds. BlueOrchard has been supporting Aye in its mission since 2017.
Aye will utilise this latest round of funds to extend affordable and customised credit solutions to the base of the pyramid businesses of India and power their growth in to the new age India.
For the current year Aye has a target of raising Rs 1500 crores in debt out of which over Rs 700 crore has already been raised
Aye Finance is backed by leading equity investors Capital G (erstwhile Google Capital), Elevation Capital, Falcon Edge, A91 Partners, LGT and MAJ Invest, in its mission to improve the financial inclusion of grassroots businesses.
Commenting on the latest fundraise, Sanjay Sharma, MD and Founder of Aye Finance, “BlueOrchard has been partnering with us in our mission to create an inclusive India since 2017 and the multiple rounds of funds that we have received from them demonstrates their comfort with and commitment to our business”.
“We are pleased to further strengthen our partnership with Aye Finance, an institution that is serving a client segment that has been largely underserved. We look forward to supporting their growth and herby supporting the MSMEs sector in India,” said Pranav Murari, Senior Investment Officer, Asia, at BlueOrchard.
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