Aye Finance, a Gurgaon based financing technology company, has now revealed that it has secured INR 210 crore in Series E funding round, led by the CapitalG.
The round also includes participation from Aye existing investor LGT Lightstone, A91 Partners, Falcon Edge Capital, and MAJ Invest.
With this fresh investment, Aye’s total equity funding since inception exceeds Rs 690 crore.
Commenting on the latest fundraise, Sanjay Sharma, Managing Director, Aye Finance, said, “Closing a major funding round during these times of economic uncertainty reinforces the value that our investors see in Aye Finance. Our deep connect with customers, our engaged team that rates us as a great place to work, our extensive presence on the field, supported with automation, is a huge differentiator that enables us to optimally restrict credit losses. This equity investment will further add to liquidity that will enable us to emerge strong from the COVID-19 crisis and continue to benefit millions of micro-enterprises across India.”
Speaking about the investment, Sumiran Das, board member and partner at CapitalG, said, “Aye Finance’s continued success is a testament to their industry leadership, their underwriting methodology, which combines an optimal mix of data science with physical presence in the field, and their ability to empower a huge, unaddressed market.”