FMO, the Netherlands’ development finance company, plans to make a debt investment of $18.2 million (Rs 125 crore) in Indian non-banking financial company Aye Finance Pvt. Ltd, according to a disclosure.
The loan will support the expansion of Aye’s loan portfolio in India, FMO said in a disclosure. The loan will also support Aye’s loan expansion to women-owned enterprises, it added.
This is the second round of debt funding raised by the non-banking financial company (NBFC) in 2019.