Google’s private equity arm CapitalG has led a fresh investment round of Rs 210 crore in Aye Finance, a non-bank lender which caters to small businesses. The fundraising also saw participation from other existing backers including LGT Lightstone, Falcon Edge Capital, A91 Partners and MAJ Invest. With this investment, Aye’s total equity funding since inception exceeds Rs 690 crore.At a time when banks and large financial institutions are cautious about who they lend to, Aye Finance has been able to disburse loans of around Rs 1-2 lakh to businesses with an annual turnover of Rs 10-30 lakh.
Google’s PE arm CapitalG leads Rs 210 crore funding round in Aye Finance
Date posted: Saturday 4 July 2020