India’s leading MSME lender, Aye Finance has announced plans to expand its presence further in the country by the end of the FY21.
After covering 22,000 pin codes in India, the FinTech lender backed by Capital G, now plans to expand to 10,000 additional pin codes. The latest move will mark a new high point in the successful run that the company has already witnessed.
Aye Finances boasts an impressive growth story and has been dedicated to serving the cause of making credit accessible to India’s rising MSME sector. Incepted in 2014, the company is perfectly poised to plunge into a new stage of growth after having disbursed loans worth over INR 2900 crores with an Asset Book of over INR 1750 crores.
Speaking on the ambitious plans of expansion, Mr. Sanjay Sharma, MD and Founder of Aye Finance said, “India’s MSME landscape is growing and evolving rapidly, which means that their need for credit is also increasing. Aye was intercepted with a vision to solve the credit woes of this sector and we have already serviced the credit needs of over two lakh micro enterprises in over 22,000 pin codes. Our expansion to these additional 10,000 pin codes will further support the growth of this critical sector, which has been contributing substantially to India’s GDP.”