Aye Finance

Alphabet-backed NBFC Aye Finance to launch Rs 2k cr IPO in a year: Report

Focused on small and medium enterprises, Aye Finance has roped in four arrangers for its upcoming IPO

Aye Finance raises Rs 310 cr in funding round led by UK development agency

Digital lender provides working capital and small loans to micro-enterprises

Aye Finance eyes 70% increase in FY24 borrowing at Rs 3,400 crore

Non-bank lender Aye Finance on Thursday said it is aiming for a 70 per cent jump in its FY24 borrowing at Rs 3,400 crore as against the Rs 2,000 crore done in FY23. The company which focuses on lending to micro enterprises has already raised Rs 2,100 crore of debt till now, and is confident of achieving the overall target for the ongoing fiscal, as per an official statement. It has made the borrowings which are deployed for onlending - from global and Indian banks and financial institutions, the statement said. Its chief financial officer Krishan Gopal said the lenders to the company have got comfort and confidence because of its repayments record, and have extended multiple lines. The company, which counts on CapitalG, Elevevation Capital, Lightrock, Alpha Wave, A91 Partners and MAJ Invest as equity investors, and HDFC Bank, SBI, Nabkissan, DCB Bank, FMO, Blue Orchard and Triodos among lenders, focuses on new to credit micro enterprises looking for small ticket loans but not havi

Fintech-firm Aye Finance posts Rs 38.67 crore profit in Q1 of FY24

Aye Finance, a fintech firm which mainly provides unsecured small-ticket business loans to micro enterprises, has reported a nearly four times increase in net profit to Rs 38.67 crore in the first quarter of the current fiscal. The Gurugram-headquartered company had posted a net profit of Rs 9.78 crore during April-June 2022-23. Its profit during 2022-23 stood at Rs 60 crore. The quarter's financial results have positioned Aye Finance as a frontrunner in the micro-enterprise lending domain, with its unique business model yielding substantial gains, it said in a release. "Our innovative approach, coupled with responsible lending practices and efficient processes across all verticals, continues to fuel our success in serving micro enterprises," said Sanjay Sharma, founder and managing director, Aye Finance. Incorporated in 2014, the fintech lender is backed by CapitalG, Elevation Capital, Light Rock, Alpha Wave, A91 Partners and MAJ Invest.

Aye Finance allocates Rs 100 cr for credit to women micro enterprises

Fintech lender Aye Finance on Wednesday said it has allocated Rs 100 crore for Shakti Loan in current financial year and targets to extend credit to 10,000 women engaged in micro enterprises. Aye said it has developed Shakti Loan in collaboration with CGAP, a global partnership of more than 30 leading development organisations, including the World Bank, UNDP, and Mastercard Foundation, which works to advance the lives of poor people, especially women, through financial inclusion. Incorporated in 2014, Aye is backed by CapitalG, Elevation Capital, Light Rock, Alpha Wave, A91 Partners and MAJ Invest. Since its inception, the lender said it has enabled the financial inclusion of over 6.5 lakh micro businesses having disbursed over Rs 7,000 crore to them. "We are very optimistic about Shakti Loan being the game changer for women micro enterprises and have allocated INR 100 crore to this product in the current financial year," said Niraj Kaushik, Deputy CEO, Aye Finance. Aye's Shakti L

Aye Finance gets Rs 107 crore in debt funding from Swiss-based BlueOrchard

Last month, Aye Finance had announced it raised Rs 125 crore from Dutch development bank FMO

AYE Finance raises Rs 233 crore in equity funding led by Falcon Edge

The company is expected to utilise this funds to increase its lending portfolio, sources said