Aye Finance to raise Rs 250 Cr in Series G round led by ABC Impact

Aye Finance, a Gurugram-based non-banking financial company said it entered into definitive agreements for Rs 250 crore in a Series G round, led by Singapore’s ABC Impact, an investor backed by Temasek and Temasek Trust.

With this round, Aye has raised a total equity of Rs 1,250 crore. 

This transaction marks the first investment made from ABC Impact’s Fund II. ABC Impact has a growing AUM of over $850 million, according to the company's press release.

The round also saw participation from British International Investment, the UK's development finance institution and impact investor who led Aye’s Series F round of Rs 310 crore in December 2023. 

"We are delighted to partner with ABC Impact in this round and look forward to maximising impact. This capital infusion will enable us to scale our operations and enhance our ability to deliver value to our target segment of micro enterprises,” said Sanjay Sharma, Founder and Managing Director of Aye Finance.

In August, the company completed a Rs 212 crore (about $25.3 million) business loan securitisation transaction with Goldman Sachs (India) Finance Pvt Ltd.

Founded in 2014 by Sanjay Sharma and Vikram Jetley, Aye Finance has disbursed over Rs 12,000 crore in small-ticket loans to over nine lakh businesses as of June this year. It achieved profitability in Q1 FY24 with a PAT of Rs 38.67 crore.