Micro-lending platform Aye Finance receives debt funding from SBI

Gurugram-based smaller scale loaning stage Aye Finance, that conveys business subsidizing to Indian miniaturized scale and little undertakings, has brought Rs 20 crore up in the red subsidizing from the State Bank of India.
Spread crosswise over 33 branches in the nation as a non-keeping money monetary organization, Aye Finance gives home loan, hypothecation and term-credit administrations open to India’s flourishing and under-served MSME part.
“While the MSME area keeps on being under-served by most money related organizations, we trust that the part holds a ton of guarantee for development, advancement and occupation creation in India,” said Sanjay Sharma, overseeing chief of Aye Finance.
Sharma said the assets from SBI will enable the firm to contact numerous more smaller scale and little undertakings and further the development of its advance book.
Established in 2014 by Sanjay Sharma and Vikram Jetley, Aye Finance makes the last-mile associate with smaller scale and little measured entrepreneurs through its system spread the nation over.
It gives a credit extension to both working capital and settled capital necessities.
In November 2016, Aye Finance had gotten value subsidizing worth $10 million (Rs 70 crore) in a Series-B round driven by LGT IV, SAIF Partners and Accion.