Aye Finance eyes 70% jump in FY24 borrowing at Rs 3,400 crore

Non-bank lender Aye Finance on Thursday said it is aiming for a 70 per cent jump in its FY24 borrowing at Rs 3,400 crore as against the Rs 2,000 crore done in FY23. The company which focuses on lending to micro enterprises has already raised Rs 2,100 crore of debt till now, and is confident of achieving the overall target for the ongoing fiscal, as per an official statement.

It has made the borrowings - which are deployed for onlending - from global and Indian banks and financial institutions, the statement said.

Its chief financial officer Krishan Gopal said the lenders to the company have got comfort and confidence because of its repayments record, and have extended multiple lines.


The company, which counts on CapitalG, Elevevation Capital, Lightrock, Alpha Wave, A91 Partners and MAJ Invest as equity investors, and HDFC Bank, SBI, Nabkissan, DCB Bank, FMO, Blue Orchard and Triodos among lenders, focuses on new to credit micro enterprises looking for small ticket loans but not having any collateral to offer.