Online Lending Startup Aye Finance Bags $3.8 Mn From Hinduja Leyland Finance And IntelleGrow
Wednesday, February 28, 2018
Gurugram-headquartered online lending startup Aye Finance has raised $3.8 Mn (INR 25 Cr) from three investors, including Hinduja Leyland Finance and IntelleGrow, which provides debt finance to growing businesses in the country. The investment, which took place through a securitisation deal, was facilitated by Vivriti Capital.
This is the second securitisation deal for Aye Finance, having earlier bagged $1.5 Mn (INR 10 Cr) by securitizing part of its portfolio in July 2017.
The latest fundraise comes less than a month after the NBFC secured $6.28 Mn (INR 40 Cr) as a term loan from IFMR Capital. The funds, as per sources, are being used to expand its online lending offerings in the MSME sector.
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