Fintech Lender Aye Finance Raises $10M from responsibility and Northern Arc

Aye Finance, the CapitalG backed fintech lender, has raised $10 million in debt funding from leading global impact investment manager, responsAbility and Northern Arc, which lends to impact focus companies, through the issuance of Non-Convertible Debentures. With this latest funds raised, Aye is gearing up to bolster its lending portfolio and offer affordable business loans to a larger number of microenterprises in India.

Micro enterprises are at the bottom of the MSME hierarchy of businesses and Aye’s mission is linked to raising this financially excluded sector and bringing it into the folds of organized finance.  The MSME lender has designed its acquisition and credit assessment processes that mirrors the comfort of the micro entrepreneur, and is fast emerging as the leader in micro lending space having disbursed over Rs 1250 Crores to over 1,00,000 customers.

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