Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Accion Venture Lab exits Aye finance



ImpactAlpha, December 11 – Accion Venture Lab, the seed-stage investment arm of Accion, has sold its undisclosed stake in the Indian fintech company. The sale comes six months after Aye snagged $21.5 million in Series C funding, led by CapitalG, Alphabet’s venture arm. Aye is Accion Venture Labs’ third exit since launching in 2012. The terms of the deal were not disclosed.

Aye launched in 2014 to provide financial services to Indian entrepreneurs underserved by mainstream banks and lenders. Accion Venture Lab first invested in the company in 2015, and has since made additional investments to support Aye’s expansion.

Aye has loaned more than $120 million to 70,000 small business customers across 100 cities in India. Accion’s Michael Schlein said Accion Ventures Lab was selling its share in the company “knowing Aye is on a clear trajectory to grow and continue to help the underserved.”

Accion Venture Lab, which backs early-stage financial startups with investments of $300,000 to $500,000, previously exited Mexico-based payments company Clip in 2017 and India-based lender Varthana in 2016. Accion retains a stake in Aye through its later-stage facility, Accion Global Investments.

You might also like...