New Delhi, Feb 19 (KNN) Aye Finance, a non banking financial institution, which provide loan services  to micro, small and medium enterprises (MSMEs) has raised an amount of Rs 25 crore through securitization deal from investors.

Sanjay Sharma and Vikram Jetley the founder of Aye Finanace, established this company in Year 2014 and in present has 72 branches in 10 states across India.

This is the second deal for Aye Finance as last July they had raised an amount of Rs 10 crore by securitization of its portfolio.

Hinduja Leyland Finance and Intellegrow are also included in the list of investors and Vivriti Capital facilitated the deal.

The current funding operations will be used to build company’s loan book.

The company has already disbursed more than Rs 500 crores to 40,000 small and medium enterprises till now and also claims to have Rs 350 crores of assets under management (AUM)

Aye Finance earlier also had raised equity funds and 3 venture capital funds including Accion International, SAIF Partners and LGT Impact Ventures.

According to Aye Finance, it is in talking terms with investors in advance to raise an additional Rs150 crore in Series C funding.

According to Sanjay Sharma, managing director, Aye Finance, many small businesses require loans of Rs50,000-500,000 but servicing such loans is expensive.

He further said that Aye is trying to bring the economy under the umbrella of inclusive fold of formal lending. (KNN/YV)