Fintech platform Aye Finance on Thursday said it has raised Rs 75 crore (around $10 million) in debt financing from Triple Jump BV and Northern Arc.
The Gurgaon-based micro, small and medium enterprises (MSME) lending firm said it will use the fresh money for on-lending.
It also plans to facilitate credit for the underserved micro-enterprises sections.
“This fundraise underscores the trust the investor community has in our model and in our ability to achieve our mission of easing access for the grassroots businesses to affordable and customised credit solutions," said Sanjay Sharma, Managing Director, Aye Finance.
Jarri Jung, Director Financial Institutions of the impact-focused investment manager Triple Jump added that it has been backing Aye Finance since 2018. The firm has also received a funding from Denmark-based private equity fund Maj Invest.
Founded in 2014, Aye Finance provides unsecured small-ticket business loans to the micro-enterprise segments. It claims to have disbursed over Rs 5,000 crore to over three and a half lakh micro-enterprises.
The platform further said recently it has announced to open 100 new centres which will take its presence to 311 centres across 20 states.
