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Aye Finance, a Gurgaon-based non-banking finance company (NBFC), is looking to raise another ₹300 crore .
“We are looking at raising about ₹300 crore in debt during this year. We are in talks with two Development Financial Institutions (DFIs) for fund raising, and has already signed term sheets with them,” Aye Finance Co-Founder and Managing Director Sanjay Sharma told BusinessLine .
Three roundsAye Finance has raised about ₹100 crore in three rounds from private equity firms SAIF Partners, Accion, Switzerland-based LGT Impact Ventures, Swiss impact investment manager BlueOrchard and angel investors. It had also raised another ₹100 crore in debt from various investors.
The company, which had commenced operations in 2014, has disbursed a total of ₹200 crore till date. Aye Finance lends only to micro and small enterprises.
At present, the NBFC has 39 branches and intends to increase it to 75 by the end of the financial year.
The NBFC also provides loans to 40 clusters such as shoe-making, brass casting and sports good manufacturing.
Now, with presence across 9 states, including Tamil Nadu, Karnataka, Uttar Pradesh and Punjab, Aye Finance is also foraying into Madhya Pradesh and Andhra Pradesh.
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