Aye Finance, a new-age finance company providing business loans to the micro, small and medium enterprises (MSMEs) announced that it has disbursed loans worth Rs. 500 crore to 40,000 customers since its inception in March 2014.
The company will continue on this growth trajectory in the next financial year too, having planned to open 40 more branches and an Asset Under Management (AUM) of Rs. 900 crores by March 2019.
Aye Finance has transitioned, in less than four years, from a start up to a mid-sized company currently having 72 branches in 10 Northern, Central and Southern States, employing over 1000 employees.
The company differentiates itself by creating a technology enabled process that builds credit insights through a variety of available business cluster, supply chain and psychometric data. This effective credit appraisal coupled with the use of modern workflow automation based on mobile and cloud, is enabling Aye to successfully bridge the gap between MSMEs and organised lending.
"Aye finance was founded with a commitment to enable the inclusion of micro and small scale enterprises into the mainstream of the economy. Apart from providing them an affordable line of credit, we have also made efforts to educate our customers to power them to new age India. We have various initiatives running which are helping our customers adapt to newer trends, be it payments or digitising business records, facilitating their inclusion in the digital revolution," said Sanjay Sharma, Managing Director, Aye Finance.