New Delhi, Jan 30 (KNN) Aye Finance, a non banking financial institution since its beginning in march 2014 catering to the need of MSMEs by providing financial support in the form of providing  business loans to the micro and small enterprises across the MSME Sector in India.

Aye Finance has disbursed loans worth INR 500 crore to 40,000 customers till now. The Company has been transformed majorly in less than 4 years, from a start up to a mid-sized company with 72 Branches in 10 Northern, Central and Southern States employing over 1000 employees.

A technology enabled process that creates credit insights via a various available business cluster, supply chain and psychometric data along with use of modern workflow automation based on mobile and cloud make it possible for Aye to fill the gap between MSMEs and organized lending. This innovative technological system distinguishes Aye Finance from other non banking financial institutions.

On this landmark achievement of Aye Finance Sanjay Sharma, Managing Director, Aye Finance said “Aye finance was founded with a commitment to enable the inclusion of micro and small scale enterprises into the mainstream of the economy and today when we have empowered 40,000 customers”.

He further said “I feel proud that we are living up to our commitment. Apart from providing them an affordable line of credit, we have also made efforts to educate our customers to power them to new age India. We have various initiatives running which are helping our customers adapt to newer trends, be it payments or digitizing business records, facilitating their inclusion in the digital revolution.”

Vivek Mathur, Managing Director, Saif Partners said “Aye Finance has found a place amongst the leaders in MSME Lending segment in a short span of less than 4 years."

As per him what makes them apart is their unique data driven Cluster Based underwriting technique which made it possible for them to disburse over 40,000 loans to grass root businesses amounting to INR 500 Crore.

When the entire economy is disturbed from the after effects of demonetization and GST, Aye Finance has maintained a high level of credit quality in its portfolio.

Aye Finance which is backed by three reputed Venture Capital Funds – Accion International, SAIF Partners and LGT Impact ventures. In the last one year Aye Finance has grown tremendously in a sustainable and profitable manner. (KNN/YV)