This startup which aids MSMEs reaches Rs 1000 cr in AUM
Aye Finance has disbursed over Rs 1700 crores to over 1,25,000 micro enterprises.
Aye Finance, which provides MSME financial services, has reached another landmark of Rs 1000 crore in Asset Under Management (AUM), within five years since inception. Aye Finance is backed by eminent investors namely, New York-based investment firm Falcon Edge Capital. CapitalG, LGT and MAJ invest. The startup has disbursed over Rs 1700 crores to over 1,25,000 micro enterprises. 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 MSMEs, which includes sectors like manufacturing, trading, livestock and services.
Pioneering in transforming the micro enterprise financing in India, Aye is successfully solving the problem of adequate financing for this credit starved sector.
Making a statement on the development, Sanjay Sharma, Founder and Managing Director said, “Reaching the Rs 1000 crore AUM marker in a short span of 5 years has put us among the leaders in MSME Lending segment. The MSMEs are the backbone of the economy and yet fail to access the formal financial systems. 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. Today when we have reached this milestone figure it comes with an added satisfaction of having empowered over 1,25,000 micro enterprises across India through our affordable lines of credit. We are now poised for another promising phase and will expand our client base with profitability and positive social impact.”
Till date, Aye Finance has served over 58 million such enterprises, giving 150 million jobs and touching the lives of over 500 million.