SAIF Partners-backed Aye Finance raises $10 mn in debt funding

Non-banking finance company Aye Finance Pvt. Ltd said on Thursday it has raised $10 million (Rs 71 crore) in debt funding from Swiss asset manager responsAbility Investments AG and homegrown firm Northern Arc Capital.

Aye Finance will use the proceeds, raised through non-convertible debentures, to boost its loan growth, it said in a statement. This is the 12th such debt fundraising round by the Gurugram-based company.

“…despite the bearish sentiments in the market, we have continued to get support from the industry in our mission to transform micro enterprise lending in India, as we continue to demonstrate robust metrics on growth and quality,” said Aye Finance’s managing director Sanjay Sharma.

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