Money & Banking

Aye Finance raises Rs 80 crore in debt funding

Our Bureau Mumbai | Updated on September 17, 2019 Published on September 17, 2019

In the last 6 months, Aye Finance opened 67 new branches and expanded presence to 171 branches in 18 Indian States and Union Territories.

Aye Finance, a fintech lender backed by private equity firm CapitalG (formerly Google Capital), has raised Rs 80 crore in debt funding from an undisclosed investor, which the company will to grow its lending portfolio.

This funding comes a month after the company raises Rs 55 crore from DCB Bank, the company said in a statement.

Aye has disbursed more than Rs 2,200 crore to 1.5 lakh micro enterprises since its inception in 2014.

In the last 6 months it opened 67 new branches and expanded presence to 171 branches in 18 Indian States and Union Territories.

In last financial year, it closed two equity rounds – Series C and D – and raised Rs 380 crore, even as it added CapitalG, Falcon Edge and MAJ Invest to its suite of investors.

Published on September 17, 2019
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