Aye Finance riased Rs 20 crore from State Bank Of India

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Friday, May 12, 2017

Aye Finance riased Rs 20 crore from State Bank Of India

Micro-lending platform Aye Finance has raised Rs 20 crore in debt funding from the State Bank of India. Aye Finance delivers business funding to Indian micro and small enterprises.

Aye Finance provides mortgage, hypothecation and term-loan services accessible to India's thriving and under-served MSME sector. It has 33 braches all over India.

Also read: Fintech startup Invoice Bazaar raised undisclosed amount of funding

The comapny said the funds from SBI will allow the firm to reach out to many more micro and small enterprises and further the growth of its loan book.

Sanjay Sharma, managing director of Aye Finance said, While the MSME sector continues to be under-served by most financial institutions, we believe that the sector holds a lot of promise for growth, development and job creation in India.

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