India: Aye Finance raises $8m via NCDs from impact investor Blue Orchard

Non-banking finance company Aye Finance has raised $8 million from global impact investment manager Blue Orchard in the form of non-convertible debentures with a maturity period of five years.

The announcement comes close on the heels of the the Gurgaon-based lender raising $3 million debt funding from State Bank of India. Prior to that in November last year it had raised $10 million (Rs 70 Crore) in Series B equity round led by LGT Impact VenturesSAIF Partners and Accion.

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