Aye finance aims big on micro enterprise lending

Aye Finance, a new age Non-Banking Financial Companies (NBFC) focused on lending to micro enterprises, is aiming to grow its loan book to 5,000 crore in next five years, a top official said.

This Capital G (Google parent Alphabet’s investment arm)-backed financial technology (fintech) company, which started its journey in 2014, will close current fiscal with a loan book of about 1,000 crore, Sanjay Sharma, Managing Director and Chief Executive Officer (CEO), Aye Finance told BusinessLine here.

Nearly 85 per cent of the loan book in value terms is collateral free, according to Sharma. For tiny units, which have monthly revenues of 2-7 lakhs, the biggest pain points are going digital and providing collateral for funding.

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