New Delhi, July 24, 2017: Aye Finance, a new age finance company providing business loans to micro and small businesses in India, announced that it has increased its branches from 33 to 67, thereby more than doubling its footprint in the first quarter of the current financial year.

Aye has expanded its branch network in the eight states it was already present in, as well as launched operations in two new states – Madhya Pradesh and Andhra Pradesh.

Founded by Mr. Sanjay Sharma and Mr. Vikram Jetley, Aye Finance prides itself in making the last-mile connect with small and medium sized business owners and provides a line of credit for both working capital and fixed capital requirements.

Aye opened its first branch in Delhi in the year 2014 and has been rapidly expanding every year and charting an exciting growth path in this under banked segment while maintaining a high benchmark for credit quality.  Aye has disbursed over Rs2000 mn in customer loans and enabled the inclusion of over 20,000 customers in the main stream of the economy.

Commenting on this development Mr. Vikram Jetley, Executive Director Aye Finance said “Micro Enterprises are ignored by Banks and Finance Companies in India because traditional credit information on them is thin and cost of servicing these small ticket loans is high. Aye is enabling the financial inclusion of these micro enterprises having devised technically enabled processes to build credit insights through a variety of available business and behavioral data. This effective credit appraisal coupled with the use of modern workflow automation is helping Aye bridge the gap between the MSMEs and organized lending.”

Aye is equity-funded by three reputed Venture Capital Funds – global nonprofit and financial inclusion pioneer Accion, SAIF Partners and LGT Impact ventures. It also has over a dozen debt providers, including India’s largest PSU Bank, SBI.

With its consistent and well-organized efforts, Aye Finance aspires to be amongst the country’s top NBFC catering to MSME Sector.

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New Delhi, June 5, 2017: Aye Finance, an innovative finance company providing business loans to small and micro enterprises across India, has disbursed INR 200 crore in loans to 18,000 micro and small enterprises in India, since its inception in 2014.

Aye Finance has achieved this milestone by investing substantial efforts in devising technically enabled processes to build credit insights through a variety of available business and behavioral data. This effective credit appraisal coupled with the use of modern workflow automation, and a small but engaged workforce is helping Aye bridge the gap between MSMEs and organized lending.

Aye Finance was founded by bankers Sanjay Sharma and Vikram Jaitley with an aim to transform micro and small enterprise financing in India. Aye continues to chart an exciting growth path in this under banked segment while maintaining a high benchmark for credit quality. It is equity-funded by three reputed funders – global nonprofit and financial inclusion pioneer Accion, SAIF Partners and LGT Impact ventures. It also has over a dozen debt providers, including India’s largest PSU Bank, SBI. Headquartered in Gurgaon, Aye has 38 branches and a team size of almost 600 employees. As a Non-Banking Financial Company, Aye Finance is proud to make business loans against mortgage or simple hypothecation accessible to India’s thriving and underserved MSME sector.

“Providing support to a micro scale business at the bottom of the pyramid is a qualitatively superior channel of creating social uplift, and when micro enterprises progress, they have a multiplier effect – creating jobs, improving education of children, better health & safety awareness, and better nutrition, etc. We at Aye are passionate about solving the challenges of funding MSMEs and enabling their inclusion into the mainstream of the economy, “said Sanjay Sharma, Managing Director and Co-founder of Aye Finance.

Commenting about the way forward, Sanjay said, “Year 2017 will be a pivotal year for Aye and we have a bold expansion plan of growing our loan book to INR 400 crore plus. This will be actualized through the additional 40 branches we will open during the year and by leveraging advanced analytics and artificial intelligence to optimize credit risk analysis with the help of Accion’s Global Advisory Solutions (GLAS) team”

Prateek Shrivastava, Vice President, GLAS – Digital Solutions, Accion said, “Aye Finance’s impact on 18,000 businesses, and the company’s strong growth trajectory, are the result of the company’s innovative approach to providing capital to underserved small businesses. Its industry cluster-based credit appraisal process uniquely enables them to extend working capital loans to creditworthy applicants. The company’s management team is also doing phenomenal in mentoring small businesses and providing counsel around best market practices. “

Aye is setting new standards in building a quality loans portfolio in an inclusive manner and is well on its way of achieving its vision of being the most admired and one of the top three companies in the micro and small business lending space in the next five years.

About Aye Finance

Incorporated in the year 2014, Aye Finance is a new age finance company providing business loans to the small and micro enterprises across India. Founded by Mr. Sanjay Sharma and Mr. Vikram Jetley, Aye Finance is headquartered in Gurgaon, spreading its services across 39 branches and employing over 450 employees. As a Non-Banking Financial Company, Aye Finance provides mortgage, hypothecation and term loan services accessible to India’s thriving and under-served MSME sector.

Aye Finance distinguishes itself by utilizing technology in mitigating the challenges faced by MSMEs in securing loans. By deploying a cloud-computing architecture and automating front-end (eCRM), Aye Finance is able to bring down the cost of delivery. It is part of Aye Finance’s vision to leverage technology prowess of today for improving the productivity of field force, detecting frauds, profiling risks and exercising dual control on processes.

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New Delhi, 25 May, 2017: Aye Finance, a non-banking finance company (NBFC) committed to transforming micro and small enterprise financing in India, has raised $8 million from Blue Orchard, a leading global impact investment manager. The funds were raised through NCDs (non-convertible debentures) with a maturity period of five years

Aye Finance is headquartered in Gurgaon and serves the credit worthy albeit the underserved MSME sector through a network of 39 branches.  Founded by professional bankers Sanjay Sharma and Vikram Jetley in 2014, Aye has successfully made a ground level connect with India’s thriving MSME sector and offers customized and innovative financial products to match the sectors’ business needs.

Blue Orchard, which is headquartered in Switzerland, was founded in 2001 by initiative of the UN as the first commercial manager of microfinance debt investments worldwide. They offer premium investment solutions to qualified investors and provide debt and equity financing to institutions in emerging and frontier markets.

Through this lending, Aye Finance and Blue Orchard are enabling the financial inclusion of millions of small businesses across India presently locked out of the financial system.

Mr. Sanjay Sharma, Managing Director, Aye Finance said “Aye Finance distinguishes itself by utilizing technology in mitigating the challenges faced by MSMEs in securing loans. By deploying a cloud-computing architecture and data science methods to derive insights about each of our industry clusters, we are able to bring down the cost of delivery and offer credit solutions at affordable rates to the micro and small enterprises. It is part of Aye Finance’s vision to leverage technology prowess of today for improving the productivity of field force, detecting frauds, profiling risks and exercising dual control on processes. These additional funds from Blue Orchard will be utilised to further strengthen our funding position and allow us to facilitate the inclusion of a larger number of micro and small businesses in the realm of mainstream economy”

In March this year Aye Finance received a credit facility of $ 3.1 million from SBI, India’s biggest and oldest Public Sector Bank and in November last year it had raised $10 million (Rs 70 Crore) in Series B Equity led by LGT IV,  SAIF Partners and Accion.

With its consistent and well-organized efforts, Aye Finance aspires to be amongst the country’s top NBFC catering to MSME Sector.

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Aiming at expanding presence in South India, the company has already disbursed loans worth 10 crore in Tamil Nadu and Karnataka

New Delhi, April 25, 2017: In the age of rapid digitalization and foreign giants setting up their base in India, the growth and longevity of the MSME sector has been challenged.  In order for Indian MSMEs to further expand and prosper, robust financial assistance is of paramount significance.  As one of the fast growing new-age finance companies in India, Aye Finance is delivering business loans against mortgage or simple hypothecation accessible to India’s thriving and underserved MSME sector.

Founded in the year 2014 by bankers Sanjay Sharma and Vikram Jetley, Aye Finance has rapidly grown its footprint through 33 branches spread across India. Recognizing the states of Tamil Nadu and Karnataka as the centres for manufacturing, handloom, and a variety of small-scale industries, Aye Finance has already disbursed loans worth INR 10 crore to the Micro & Small Entrepreneurs in these states.

 Aye Finance is driven with a vision to leverage technology and bring about financial inclusion in India.

Aye Finance differentiates itself through a customer selection process that uses technology to enhance efficiency of loan origination and builds a high quality loan portfolio by using data sciences to analyse business and behavioural data.  This approach has enabled Aye Finance to offer business loans to deserving micro enterprises who do not have prior credit bureau history.  This effective credit appraisal coupled with the use of modern workflow automation and an engaged workforce is helping bridge the gap between the MSMEs and organized lending.

Micro and Small businesses financed by Aye Finance in turn help sustain employment at the bottom of the pyramid.  Aye Finance has already impacted an ecosystem of over 100,000 families through its business enterprise loans and it is driven by a vision to impact over 10 million households by 2020 and become an admired player in its space.

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