Non-banking finance company (NBFC) committed to transforming micro and small enterprise financing in India Aye Finance has announced raising USD eight million from Blue Orchard, a leading global impact investment manager.
Aye Finance, who serves the credit worthy albeit to the underserved MSME sector through a network of 39 branches, will use the received funds to further strengthen its funding position.
"These additional funds from Blue Orchard will be utilised to further strengthen our funding position and allow us to facilitate the inclusion of a larger number of micro and small businesses in the realm of mainstream economy," said MD Aye Finance, Sanjay Sharma.
Earlier in March, Aye Finance received a credit facility of USD 3.1 million from State Bank of India. With its consistent and well-organized efforts, Aye Finance aspires to be amongst the country's top NBFC catering to MSME Sector.