Aye Finance raises about $25 million from Goldman Sachs (India) Finance
Aye Finance has raised about $25 million from Goldman Sachs (India) Finance, the non-banking unit of Goldman Sachs in India, in a securitisation deal.
The deal, valued Rs 212 crore in local currency, was announced Tuesday.
This will free capital for Aye Finance and help it in business expansion. The fintech company lends to micro enterprises across India.
«Aye has provided credit lines of over Rs 10,000 crore to 9 lakh grassroots businesses, and this deal will further accelerate our growth trajectory,” chief financial officer Krishnan Gopal.
The securitization deal is backed by a portfolio of Aye Finance’s business loans to micro enterprises structured via pass-through certificates.
Aye Finance's net profit for FY24 nearly tripled at Rs 161 crore while revenue was up 67% at 1072 crore.
CapitalG, Elevation Capital, Lightrock, Alpha Wave, A91 Partners and MAJ Invest are other investors in the company.
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