Aye Finance, a Gurugram-headquartered online lending startup, has disbursed loans worth Rs 1,000 crore to over 80,000 micro enterprises since its inception in March 2014. Since June last year, the company had disbursed loans worth Rs 200 crore.
“The MSMEs are the backbone of the economy and yet fail to access the formal financial system. We wanted to disrupt this status quo and directly contribute towards the growth and longevity of these ventures with an easy access to adequate business financing,” Sanjay Sharma, MD and Founder of Aye Finance, said.
“With the Rs 1,000-crore achievement behind us, we are now poised for another promising phase. We expect to further expand our client base with profitability and a positive social impact, thereby creating value for our customers, employees, investors and other stakeholders,” he added.
Aye Finance has presence across 100 cities with a team size of 1,600 employees. In June, it had raised equity investment from CapitalG (formerly Google Capital) in a Series C round, which also saw participation from its existing investors SAIF Partners and LGT. It had earlier raised capital from Accion International.