India’s Aye Finance said to have raised debt funding from Invest in Vision

Photo by Josh Appel on Unsplash

Aye Finance, a small-business lender headquartered in Gurugram, has reportedly garnered as much as Rs 125 crore in debt from Germany-based Invest in Vision, per media reports.

The news surfaces just after the firm raised about $27.6 million (Rs 210 crore) in its Series E funding round led by Capital G, Alphabet’s independent growth fund late last month. The round had also seen the participation of Aye’s existing investors LGT Lightstone, Falcon Edge Capital, A91 Partners and MAJ Invest.

Established in 2014, Aye Finance claims to have disbursed Rs 3000 crore in a bid to give a facelift to the micro-enterprise lending landscape. It has reportedly brought over 200,000 unorganised businesses into the formal lending ecosystem.

The current round of debt funding will help Aye Finance spruce up lending for the micro-enterprise sector. The fintech firm typically pumps in Rs 1-2 lakh into businesses with an annual turnover of Rs 10-30 lakh.

Aye Finance is understood to have so far raised over Rs 690 core in equity. In terms of debt instruments, it has garnered over Rs 2,000 crore.

In January this year, the company made headlines when A91 Partners invested about $20 million in Aye Finance through a secondary sale of shares, acquiring the stake of Accion, Mint had reported. In December, it had raised Rs 107 crore as debt funding from Switzerland-based impact investor BlueOrchard.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.