Lightrock, a global investment platform backing purpose-driven companies, announces the partial realisation of its investment in Aye Finance Limited (the “Company” or “Aye Finance”) following the Company’s Initial Public Offering and listing on 16
February.
Founded in 2014, Aye Finance is a tech-enabled lender in India, providing loans to
underbanked micro, small and medium-sized enterprises (MSMEs) through a range of debt
solutions. Typical ticket sizes range from USD $1,500 to USD $4,500, with loan terms typically lasting 24 to 96 months.
The award-winning lender serves the MSME sector, which forms the backbone of India’s
economy, employing 320 million people, comprising 31 per cent of India’s GDP, and nearly
half of its exports.1 MSMEs have been chronically underserved by traditional lenders, holding
back business expansion, productivity and innovation. Aye Finance has grown to more than
10,000 employees across 560+ branches spanning more than 20 states and territories, with annual disbursements of more than USD $450 million.
Lightrock’s partnership with Aye Finance began in 2016, when funds advised by Lightrock
invested in the Company’s Series B funding round Since then, Lightrock has provided
strategic guidance, impact management and measurement expertise, and fundraising
support to accelerate the Company’s growth.
Samir Abhyankar, Partner and Head of India at Lightrock, commented: “We extend our
warmest congratulations to the Aye Finance team on this significant milestone. Since 2016,
Lightrock has witnessed how their innovative approach to MSME lending has unlocked
economic opportunity for thousands of underserved businesses across India. We look
forward to supporting Aye Finance’s ongoing success as they continue their journey as a
listed company.”
