Indian FinTech player Aye Finance has raised more than $14mn.
In Brief:
-
The funding comes from BlueOrchard.
-
Debt funding is backed by Alphabet’s CapitalG and others.
-
Aye lends to microenterprises and has enabled more than 200,000 so far.
What does this mean?
This is the third round of debt financing raised by Aye this year – coupled with the loyalty of BlueOrchard, which as invested six times in total, this points to investor confidence in the company. The business raised $16.8mn just last month, and funding will be used to develop its SMB portfolio across the country.
