Aye Finance raises $30-M from FMO

Gurugram-headquartered lender focused on financial inclusion Aye Finance has raised USD 30 million (around INR 250 crore) in debt funding from Dutch development bank FMO.The proceeds from this funding will be used to extend loans to underserved micro small and medium enterprises across India.Aye Finance offers secured business loans to both self-employed individuals and business enterprises. Aye's net profit in FY24 grew nearly three-fold at INR 161 crore while revenue was 67% higher at INR 1,072 crores as compared to the numbers in the preceding fiscal.