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.