Non-bank lender Aye Finance has secured Rs 137 crore in debt funding from German impact and portfolio management firm Invest in Visions. The funding, sourced from IIV Mikrofinanzfonds and another private fund managed by Invest in Visions, will be directed towards on-lending to micro and small business units to support their expansion endeavours, Aye Finance revealed on Wednesday.
Expressing enthusiasm about the partnership, Aye Finance’s Chief Financial Officer, Krishan Gopal, stated, “We are delighted to partner with Invest in Visions. Their commitment to supporting inclusive growth aligns perfectly with our mission to empower MSMEs in India.” He further emphasized that the infusion of new funding would enable them to extend their support to a broader spectrum of micro-enterprises.
Aye Finance specializes in offering a diverse range of loan products tailored specifically to meet the unique needs of MSMEs. Last month, the company announced that it had disbursed over Rs 10,000 crore in loans to grassroots business ventures across the country.
With an active client base exceeding 450,000 micro-enterprises and assets under management (AUM) surpassing Rs 4,000 crore, Aye Finance has established itself as a prominent player in the microfinance sector.
Invest in Visions GmbH, founded in 2006, stands as Germany’s pioneer microfinance fund, extending its support to small and medium-sized enterprises in addition to microfinance initiatives.
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