Aye Finance, a fintech non-banking financial company specialising in loans for micro enterprises, announced on Wednesday that it has finalised a Rs 212 crore securitisation deal with Goldman Sachs (India) Finance Pvt Ltd.
This transaction will support Aye Finance's ongoing efforts to expand its lending services to microenterprises throughout India, according to a statement from the NBFC.
Aye Finance CFO Krishan Gopal stated that the deal highlights the company's ability to take care of the credit needs of microenterprises through its business model.
"Aye has emerged as a category leader transforming micro enterprise lending in India, having provided credit lines of over Rs 10,000 crores to 9 lakh grassroots businesses, and this deal will further accelerate our growth trajectory," he said.
Hitesh G, an executive director at FICC Credit Structuring at Goldman Sachs in India, said Goldman Sachs is focused on providing innovative debt financing instruments in India.
In June 2024, Aye Finance said its profit grew three times to Rs 161 crore and revenue was up 67% to Rs 1,072 crore in the last financial year compared to fiscal 2023.
In December 2023, Aye Finance secured Rs 330 crore in a Series F equity round. The company reports having implemented a strong system to extend financial support to microbusinesses, aiming to address the needs of this underserved sector.
(With Inputs From PTI)
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