Social VC Investments
Lender to micro-enterprises Aye Finance raises Rs 87-Cr from BlueOrchard
Gurugram-based lender to micro-enterprises Aye Finance has raised INR 87 crore debt funding from Swiss impact investor BlueOrchard. Aye Finance has provided about INR 5,500 crore credit to over 4,50,000 grassroots businesses. It has branches in 311 locations. Aye finance provides small ticket customised credit solutions to over 60 million micro enterprises. The funds will be used to expand the network and operations. The company has targeted to raise INR 1,500 crore via debt this year, of which INR 700 crore has been raised so far.
From the Venture Intelligence PE-VC Deal Database: Between Apr 14 and Jun 20, Aye Finance had raised over USD 123 M from A91 Partners, Alpha Wave Global, Lightrock India, Elevation Capital, Accion International, Maj Invest and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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