New Delhi, Aug 21: Aye Finance, a fintech non-banking financial company(NBFC) that provides loans to micro enterprises, on Wednesday said it has completed a Rs 212 crore (about USD 25.3 million) business loan securitisation transaction with Goldman Sachs (India) Finance Pvt Ltd.
The transaction will allow the continued expansion of Aye Finance’s lending operations to micro enterprises across India, the NBFC said in a statement.
Aye Finance CFO Krishan Gopal said the transaction underscores the company’s business model catering to the credit needs of micro enterprises.
“Aye has emerged as a category leader transforming micro enterprise lending in India, having provided credit lines of over Rs 10,000 crores to 9 lakh grassroots businesses, and this deal will further accelerate our growth trajectory,” he said.
Hitesh G, an executive director at FICC Credit Structuring at Goldman Sachs in India, said Goldman Sachs is focused on providing innovative debt financing instruments in India.
In June 2024, Aye Finance said its profit grew three times to Rs 161 crore and revenue was up 67 per cent to Rs 1,072 crore in the last financial year compared to FY23.
In December 2023, Aye Finance raised Rs 330 crore in Series F equity round and has put in place a robust mechanism to reach out to micro businesses and provide the financial support to this underserved segment. (PTI)
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