This startup aids MSMEs, concludes fourth round of seed funding
Aye Finance raised Rs 233.62 crore, led by Falcon Edge; existing investors such as CapitalG, LGT and MAJ
A startup which provides MSME financial services has received a new round of funding creating further good news for job opportunities and early birds. It would be Aye Finance startup who has now received D series equity round funding where the company has raised Rs 233.62 crore. New and existing investors together participated in this funding. Some of them were - New York-based investment firm Falcon Edge Capital. CapitalG, LGT and MAJ invest.
Aye Finance, started in 2014 by Sanjay Sharma and Vikram Jetley, with the aim to provide customer-centered financial services to MSME's, with the knowledgeable team, effective technology and robust processes. These aspects boost up the efficiency in the performance of the MSME's, which includes sectors like manufacturing, trading, livestock and services.
Having served over 58 million such enterprises, giving 150 million jobs and touching the lives of over 500 million, Aye Finance has crossed yet another milestone, by concluding its fourth seed funding.
Post the round of investment, Sanjay Sharma, Managing Director, Aye Finance, stated, " We are privileged to have closed series D funding within a year of the last equity round. This round is led by Falcon Edge which has a deep focus in India and globally in the financial services. The funds from this round will help us continue the strong growth in lending to micro enterprises across India. n the coming year we will make our services to our clients go beyond finance and this will support our vision for the holistic impact that will power the growth of micro-enterprises in a new age India.”
The lead investor of the concluding seed funding, founder of Falcon Edge Capital , Navroz D. Udwadia said, " Falcon Edge believes that the growth of financial services and financial product penetration in India represents one of the more compelling, structural, long-term investment opportunities globally. We focused on MSME and SME lending as a significant yet under-served financing opportunity with healthy unit economics and a large, fragmented addressable market."
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