New Delhi, April 25, 2019: Aye Finance, the CapitalG backed fintech lender to MSMEs, has reached the INR 1000 AUM (Asset Under Management) milestone within 5 years of inception. Started in 2014, the lender has been growning exponentially having disbursed INR 1700 crores to over 1,25,000 micro enterprises since inception.
Aye has become a pioneer in transforming the micro enterprise financing in India by innovating on the methods that enable effective credit underwriting of the segment which has historically been ignored by formal lending channels. With products and processes customised to suit the unique needs of micro enterprises, Aye is successfully solving the problem of adequate financing for this credit starved sector.
Commenting on this achievement Mr. Sanjay Sharma, Founder and Managing Director said “Reaching the INR 1000 crore AUM marker in a short span of 5 years has puts us amongst the leaders in MSME Lending segment. The MSMEs are the backbone of the economy and yet fail to access the formal financial systems. We wanted to disrupt this status quo and directly contribute towards the growth and longevity of these ventures with an easy access to adequate business financing. Today when we have reached this milestone figure it comes with an added satisfaction of having empowered over 1,25,000 micro enterprises across India through our affordable lines of credit. We are now poised for another promising phase and will expand our client base with profitability and positive social impact”
The last financial year has been a landmark year for Aye. It closed two round of equity, Series C & D, raised over INR 380 crores and added Falcon Edge and CapitalG (erstwhile Google Capital) to its suite of reputed investors – SAIF Partners, Accion, LGT and MAJ Invest.
Aye is setting new standards in building a quality loans portfolio in an inclusive manner and creating value for its customers, employees, investors and other stakeholders.