New Delhi, July 07, 2017: Aye Finance is a new age finance company providing business loans to the small and micro enterprises across India. Founded by professional bankers Sanjay Sharma and Vikram Jetley in 2014, Aye Finance continues to chart an exciting growth path in this under banked segment while maintaining a high benchmark for credit quality. Headquartered in Gurgaon, it has 33 branches employing over 450 employees. As a Non-Banking Financial Company, Aye Finance is proud to make business loans against mortgage or simple hypo the cation accessible to India’s thriving and under served MSME sector.
The MSME sector in India is challenged by a funding gap of over INR 5 trillion, as estimated by the industry. Most banks and financial companies had assumed the segment would be unprofitable and too risky, due to lack of formal business documents and small size of the loan.
Aye Finance is a commercial institution built around the mission to solve these challenges of funding MSMEs and enabling their inclusion into the mainstream of the economy.Aye Finance is equity-funded by three reputed Venture Capital Funds – Accion International, SAIF Partners and LGT Impact ventures. It also has over a dozen providers who extend their debt funds for its MSME finance business.
Aye Finance differentiates itself by creating a technically enabledprocess that builds credit insights through a variety of available business and behavioral data. This effective credit appraisal coupled with the use of modern workflow automation,and a small but engaged workforce is helping bridge the gap between the MSMEs and organized lending. The cloud-computing architecture enables flexibility delivery of customer service at an affordable cost. It is part of Aye Finance’s vision to leverage modern technology for multiplying the productivity of field force,early detection of frauds and lowering operational risks.
Aye Finance prides itself in an engaged team that is unified behinds its mission. The expertise of its founders is amplified by a talented leadership team with deep knowledge of the domain. Besides its robust commercial operations, the Company also funds its non-profit initiative to coach MSMEs on market knowledge, business book-keeping and advising on operations techniques.
Micro and small businesses financed by Company in turn helps sustain employment at the bottom of the pyramid. Aye Finance and has already impacted an ecosystem of over 100,000 families through its business enterprise loans and it is driven by a vision to impact over 10 mn households by 2020 and become admired in their space.
Corporate Comm India(CCI Newswire)
