About AyeFinance Pvt Ltd:

Aye Finance is a new-age finance company that provides secured and unsecured
small business loans to small and micro enterprises across India. It aims to solve the
challenges in funding micro, small and medium enterprises and bring them into the
mainstream of the economy.

Aye Finance is dedicated to working with the most relevant technology to facilitate
better financial inclusion and to consequently serve micro-enterprises across the
country in a more holistic manner. The fintech’s cluster-based credit appraisal
approach and physical model bridges the gap between MSMEs and organised
lending norms. It offers mortgage, hypothecation, and add-on loans to micro
businesses for their building capital assets and working capital needs, such as
purchases of machinery and raw materials, renovation of business premises, and
others. The Company also offers mortgage loans and receivable financing to
institutions and small businesses.

Aye Finance is equity-funded by three venture capital funds—Accion International,

SAIF Partners and LGT Impact ventures. It also has over a dozen providers who
extend their debt funds for its MSME finance business

Aye Finance has been a leading player in developing AI and ML models to further
ease the access of credit to the MSME sector and has deployed advanced AI/ML
solutions in most of its critical business processes

Industries: Financial Services

Company size: 1001-5000 employees
Headquarters: Gurgaon, Haryana
Type: Privately Held
Founded: 2014

Aye Finance raises Rs 75 crore debt from Triple Jump and Northern Arc
Who is our client?

Aye Finance (Aye) is a non-deposit taking NBFI with a specific focus on micro and
small enterprises in India. Aye finances micro enterprises in manufacturing and
service clusters across 18 Indian States. Using tech-based credit underwriting Aye is
able to provide loans to customers who otherwise would be locked out of the
financial system.

Funding objective

The Finance Monitoring Organization(FMO) loan supports the expansion of Aye’s

loan portfolio in India. The loan is dedicated to micro entrepreneurs and therefore
supports FMO’s objective of reducing inequalities. Aye has expanded to the States
of Bihar, Jharkhand, Gujarat and Maharashtra which have a prevalence of women
entrepreneurship. The FMO loan thus supports Aye’s loan expansion to women-
owned enterprises and FMO also offers technical assistance targeted at increasing
Aye’s reach into the women market.

Why we fund this project

India has a high number of enterprises which fall between the (smaller) loan size
ranges that microfinance companies offer and the (higher) loan sizes that traditional
banks and NBFIs offer, i.e., the ‘missing middle’ who don’t have access to the formal
credit system. FMO wants to support credit extension to this segment in India by
supporting innovative companies such as Aye, which serve this target segment
efficiently and at acceptable credit risk levels.
 Aye Accion, SAIF Partners, Falcon Edge Capital, Accion
Finance investors Venture Lab, CapitalG, LGT Impact Ventures, LGT
Capital Partners, LGT, A91 Partners, LGT
Lightstone, Funds managed by Maj Invest, MAJ
Invest

Aye Finance uses 18 technology products and services including HTML5, Google

Analytics, and jQuery, according to G2 Stack. Aye Finance is actively
using 42 technologies for its website, according to BuiltWith. These include Viewport
Meta, IPhone / Mobile Compatible, and SPF.

Aye Finance has 8 current employee profiles, including Founder, Managing Director

and CEO Sanjay Sharma. Aye Finance has 2 board members and advisors,
including Sumiran Das.