ImpactAlpha, July 30 – Aye Finance, a Gurgaon-based small business lender, focuses on designing financial products for small business owners at the base of the economic pyramid.
Aye Finance has supported 60,000 small businesses in India with 8.5 billion rupees ($123.7 million) in loans since launching in 2014. It operates in more than 100 cities in 11 Indian states.
Bethesda, Md.-based MicroVest and Amsterdam-based Triple Jump are backing Aye Finance’s lending expansion with $10 million in debt capital. Aye Finance’s latest debt round follows a $21.5 million Series C equity found, led by Alphabet’s venture arm, CapitalG.
Aye Finance has raised a cumulative $37.1 million in debt capital since the start of 2018, LiveMint reports.