Aye Finance, a lending firm secures $10 million of ECB (External Commercial Borrowings) from Swiss-based responsAbility Investments AG.
responsAbility is headquartered in Zurich is a leading asset manager for impact investments in emerging economies.
Aye has been on a fund raise spree and has raised over INR 550 crores of debt in the last three months, out of which INR 86 crores was from BlueOrchard and INR 65 crores was from Symbiotics.
Commenting on the latest fundraise, Sanjay Sharma, MD and Founder of Aye Finance, says: “We are currently witnessing a surge in credit applications from the microenterprise sector as businesses are being rebuilt post the disruptions caused by the pandemic. The support we are receiving from global impact leaders like responsAbility allows us to continue in our mission of transforming microenterprise lending in India by providing entrepreneurs customized business loans at affordable prices.”