New Delhi, Mar 11 (KNN) After providing its services to almost in over 22,000 pin codes, Aye Finance, backed by Capital G, has announced its expansion plans further in the country by the end of the FY21.

Have already disbursed loans to more than 2 lakh micro enterprises worth Rs 2,900 crores till date, the MSME lender now aims to add 10,000 more pin codes.

“India’s MSME landscape is growing rapidly, which means that their need for credit is also increasing. Aye was incepted with a vision to solve the credit woes of this sector and we have already serviced the credit needs of over two lacs micro enterprises in over 22,000 pin codes. Our expansion to these additional 10,000 pin codes will further support the growth of this critical sector, which has been contributing substantially to India's GDP,'' said Sanjay Sharma, MD and Founder of Aye Finance, in a statement.

Incepted in 2014, the company has, till date, disbursed loans worth over Rs 2900 crores and with an asset book of over Rs 1750 crores, the fintech lender is placed to embark on its next phase of growth.

The unprecedented success in the MSME lending segment has also propelled Aye to transition from a start-up to a mid-sized company in a short span of 6 years. The lender has a presence in 18 Indian States / UTs through its 173 branches employing over 3000 employees. It is the only Indian finance company to be funded by CapitalG, and has marque investors including SAIF Partners, Falcon Edge, Accion, LGT and MAJ Invest part of its investor suite.

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