Aye Finance raises $3.8 million to ramp up lending to underbanked businesses in India

Inclusive Economy Aye Finance operates 72 lending branches in 10 Indian states The team at AYE Capital | PC: YourStory The company, based in Gurugram, India, uses alternative metrics, including non-financial ones, to assess creditworthiness for businesses that are overlooked or rejected by mainstream lenders. Aye Finance operates 72 lending branches in 10 Indian states and

The Brief’s Big Eight: Gun money, billion-dollar babies, alt-credit, values of inclusion

Greetings, ImpactAlpha readers! Investors flex their muscles on guns. Guns are the new carbon…or cigarettes…or South Africa. The $70 billion State of Michigan Retirement System sold its holdings in Olin Corp., maker of Winchester ammunition. New Jersey legislators will vote on a bill to ban guns from the portfolios of state employee pension funds. BlackRock,

Tech pundits take on the bugs in the market system

NewCo’s Shift Forum in San Francisco has become a place for policy and even political discussions that are outside the bounds of most tech conferences. This year’s conference was no exception as speakers took on the prevailing notion that the replacement of workers with automation is an inevitable outcome of technological progress. “The fundamental question

Backstage Capital backs Native American-run biotech firm Novoron

Novoron Bioscience was founded by neuroscientist Travis Stiles to develop therapies for central nervous system disorders like multiple sclerosis. The company has been working with a National Institute of Health grant to develop a spinal cord nerve regeneration therapy. Backstage Capital announced on Twitter that it had invested an undisclosed amount in the company. Backstage raised

Fallacies of impact investing, DC’s founders of color, sustainable rubber in Indonesia, impact…

Greetings, ImpactAlpha readers! #Featured: Impact Voices Doing well by doing good is not doing enough to transform finance. The racial wealth gap is widening. At current trends, median wealth for African American households will fall to zero by 2053; the median Latino family will hit zero-wealth in 2073, according to a recent report. ImpactAlpha has been

Alternative credit scoring, direct investing in Philly, reducing investor bias

Greetings, ImpactAlpha readers! #Featured: ImpactAlpha Original Forget FICO: How alternative credit-scoring is driving financial inclusion around the world. Fintech startups are crunching call-logs, app installs and even punctuation to help more individuals and businesses get loans. The World Bank estimates that two billion adults do not have a bank account, let alone a FICO or