MSME lender Aye Finance has received debt finance of Rs 250 crore (about $30 million) from Dutch entrepreneurial development bank FMO.
They will be able to quickly extend their lending operations and incorporate the small enterprises that are the backbone of the Indian economy into the structured lending system with the help of this most recent investment from the FMO.
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Aye Finance received debt financing in March amounting to about Rs 137 crore, or 15 million euros ($16.2 million), from German impact investor Invest in Vision’s private funds, which comprise IIV Mikrofinanzfonds.
Krishan Gopal, CFO, Aye Finance, said: “Our association with FMO dates back to 2019 and through our collaborative efforts, we have been making affordable credit a reality for the ignored segment of micro-enterprises in India.”
More than nine lakh businesses have benefited from small-ticket loans totaling more than Rs 12,000 crore from Aye Finance. Profit after tax (PAT) for Aye Finance increased to Rs 161 crore in FY2023–24 from Rs 57 crore in the previous fiscal year, almost trebling.
About Aye Finance
Aye Finance is a modern finance company that was founded in 2013 by Sanjay Sharma that offers business loans to small and micro businesses all throughout India.
