Get All Access for $5/mo

Aye Finance Raises INR 87 Crore From BlueOrchard Aye will utilize the fund to extend affordable and customised credit solutions to the base of the pyramid businesses of India and power their growth into the new age India

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Aye Finance, the Capital G backed fintech lender, has raised INR 87 crore as debt funding from BlueOrchard managed funds. BlueOrchard has been supporting Aye in its mission to enable the financial inclusion of micro enterprises since 2017. Aye will utilize the fund to extend affordable and customised credit solutions to the base of the pyramid businesses of India and power their growth in to the new age India.

"Aye is in the sweet spot of providing small ticket customized credit solutions to over 60 million micro enterprises that have been overlooked by traditional lending channels as our innovative solutions and process automation brings unexpected economies in our business. BlueOrchard has been partnering with us in our mission to create an inclusive India since 2017 and the multiple rounds of funds that we have received from them demonstrates their comfort with and commitment to our business," said Sanjay Sharma, MD and founder, Aye Finance.

Along with providing economical credit to power the growth of their businesses, Aye also provides beyond financing support to this sector through its not-for- profit arm FAME (Foundation for Advancement of Micro Enterprises). Started in 2019, FAME has supported over 40,000 micro entrepreneurs of the dairy, shoes manufacturing, sports goods manufacturing and kirana clusters, claimed by the company in a statement.

"We are pleased to further strengthen our partnership with Aye Finance, an institution that is serving a client segment that has been largely underserved. We look forward to supporting their growth and herby supporting the MSMEs sector in India," said Pranav Murari, senior investment officer, Asia at BlueOrchard.

Founded in 2001, BlueOrchard is a global impact investment manager. As a pioneering impact investor, the firm is dedicated to generating lasting positive impact for communities and the environment.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Leadership

As a Leader, Take These 5 Steps to Bridge the Gap Between Innovation and Execution

Companies that want to turn ideas into action must align their people and listen to their customers.

Science & Technology

Use This Framework to Successfully Integrate AI Into Your Business Operations

Here's how to ensure both innovation and compliance when using AI in your organization.

Growing a Business

5 Effective Strategies to Boost Your Business's Online Presence

Boosting your online presence in 2025 is the key to success for businesses looking to grow. Working on your branding and reputation management is important to drive more sales and improve conversion.