Aye Finance, India’s leading fintech lender to the MSME Sector announced the joining of Samir Mehta as Deputy CEO.
In his new role as Deputy CEO, Samir will focus on scaling up Aye’s business and will implement strategies to further enhance the MSME lenders’ performance and capability.
Samir joins Aye from Hero FinCorp where his last assignment was as Chief Business Officer leading the sales & credit teams for Retail SME business lines.
Samir has over 22 years of accomplished track record working with leading players in the BFSI Sector and is an alumnus of the Indian Institute of Management-Lucknow and National Institute of Technology – Kurukshetra.
Sanjay Sharma, Managing Director of Aye Finance commented on the new appointment “Samir’s expertise in P&L management of large businesses and in scaling up lending to SME segment will be very valuable as we emerge from this period.”
Samir Mehta also commented on joining the Aye’s leadership team “Aye provides much-needed financial services to India’s micro scale informal businesses and the entrepreneurs who run them – a critical, but often overlooked and underserved, population.”
Aye has been transforming the micro enterprise lending landscape since its inception in 2014 having designed innovative credit assessment methods to lend to a segment that was historically ignored by formal financial institutions. Having established an innovative paradigm in micro enterprise lending in India through its “Cluster Based Credit Assessment” methodology, Aye has now developed various Artificial Intelligence / Machine Learning models to extend credit to a much larger population of micro enterprises, establishing a tighter control on its asset book quality along with bringing improved efficiencies in its processes.
The lender has maintained adequate liquidity even during the economic disruption caused by the pandemic, closing its Series E equity round of Rs 210 cores in June, along with raising multiple debt lines from leading impact investors.