Almost one month after finalizing the loan securitization agreement with Goldman Sachs Finance, the lending tech firm Aye Finance has raised INR 250 Cr (around $30 Mn) in a Series G fundraising round led by the Singapore-based impact investor ABC Impact.
British International Investment (BII), an existing investor in Aye Finance that spearheaded its INR 310 Cr Series F investment round in December of last year, was also a part of the funding round. Furthermore, the latest deal is the first investment made from ABC Impact’s fund II.
Read also- Singapore-Based Boon Secures $5 Million in Series A Round Funding
Aye Finance offers reasonably priced business loans to small businesses across the country. In the absence of conventional business documentation, the risk assessment is carried out using AI algorithms for cluster-based credit evaluation.
This happens at a time when investors’ attention is being drawn to lending companies by their plans to expand their services. Leading technology firm Fibe (previously EarlySalary), for instance, raised $90 million in its Series E fundraising round to grow its operations, strengthen its current product lines, and diversify its impact loan portfolio.
About Aye
Aye Finance is a new-age finance company providing business loans to small and micro enterprises across India. Since 2014 they have continued to chart an exciting growth path in this under-banked segment while maintaining a high benchmark for credit quality
