New Delhi: Aye Finance, an NBFC fintech company lending to micro enterprises, announced Wednesday the successful completion of a Rs 212 crore business loan securitisation deal with Goldman Sachs (India) Finance Pvt Ltd, equivalent to about USD 25.3 million.
In a statement, the NBFC mentioned that the deal will support Aye Finance in continuing to grow its lending services to small businesses throughout India. The CFO of Aye Finance, Krishan Gopal, stated that the deal highlights the company's approach of serving the credit requirements of small businesses.
He stated that Aye has become a top player in revolutionizing small business lending in India by giving credit lines of over Rs 10,000 crores to 9 lakh grassroots businesses, and this agreement will continue to boost our growth path.
Hitesh G, an executive director at FICC Credit Structuring at Goldman Sachs in India, stated that Goldman Sachs' primary focus in India is on delivering creative debt financing tools.
Aye Finance reported a threefold increase in profit to Rs 161 crore and a 67% rise in revenue to Rs 1,072 crore in June 2024 compared to FY23. During December 2023, Aye Finance secured Rs 330 crore in Series F equity funding and has established a strong system to help small businesses and offer financial assistance to this neglected group.
FIRST Business Portal addressing the potential of business capability of North East Region.
