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.

Photo courtesy of Mags’ pics for everyone.

Source: Inc42 (link opens in a new window)

startups, venture capital