AYE Finance raises Rs 147 cr via fresh round of equity funding

Non-banking financial company AYE Finance has raised Rs 147 crore (USD 21.5 million) in a series C equity funding from CaptialG and existing investors to fund its business growth.

Apart from CaptialG (formerly Google Capital), the existing investors SAIF Partners and LGT have infused equity in this round of funding, the company said in a statement.

"AYE will be using these funds to fuel business growth and maintain the lead in its financial technology," it said.

Sanjay Sharma, Founder and Managing Director, AYE said, "We are very excited about our partnership with CapitalG. We have used insightful data models and technology to provide affordable business loans to the financially excluded micro enterprises across India. CapitalG's access to Google expertise in scaling businesses using analytics and technology will strongly supplement our approach."