Fri Sep 20 06:06:18 UTC 2024: ## Aye Finance Secures ₹250 Crore in Series G Funding Led by ABC Impact
**New Delhi, [Date]**: Aye Finance, a leading non-banking finance company specializing in lending to micro, small, and medium enterprises (MSMEs), has announced the completion of a ₹250 crore Series G funding round. This brings the company’s total equity raised to ₹1,250 crore. The round was led by ABC Impact, a prominent Pan-Asia impact investor backed by Temasek and Temasek Trust.
This investment marks the first deployment from ABC Impact’s Fund II, which boasts an impressive asset under management (AUM) exceeding $850 million. The round also saw participation from British International Investment, the UK’s development finance institution and impact investor, who previously led Aye Finance’s Series F round of ₹310 crore in December 2023.
Sanjay Sharma, Founder and Managing Director of Aye Finance, expressed enthusiasm about the latest funding round, highlighting the company’s commitment to financial inclusion for underserved segments since its inception in 2014. He emphasized the partnership with ABC Impact and its potential for maximizing impact. The fresh capital will be utilized to scale operations and enhance value delivery to its target segment of micro-enterprises.
Sugandhi Matta, Chief Impact Officer of ABC Impact, emphasized the significant role of MSMEs in the Indian economy and the need to address their critical lack of access to formal credit. She underscored the importance of the partnership with Aye Finance in empowering micro-entrepreneurs through improved access to credit, enabling them to grow their businesses and reach their full potential.
The latest Series G deal is subject to the completion of standard conditions precedent. Aye Finance remains a prominent player in the small-ticket MSME lending landscape, providing vital working capital loans to micro-enterprises.
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