Mumbai, 10th February 2022: In a major development, Aye Finance, India’s leading lender to the underserved MSME sector, is expanding its footprint in Maharashtra by opening 10 new branches across Maharashtra including Thane, Panvel, Jalna and Shirur, among others. The new development strengthens Aye’s geographical presence taking the total to 23 in Maharashtra and and 311 Pan India.
Founded with a vision to transform the micro and small-scale enterprise financing in India, Aye Finance has hired over 1,000 employees in Tier 2 and beyond cities in November 2021 taking its headcount to 4,600. Aye has been on a rapid expansion spree having opened 100 new centers in the current financial year taking its presence to 311 centers in 20 States.
Aye is the only scaled, Pan-India player providing unsecured small-ticket business loans to a large credit-starved micro-enterprise segment. Aye has cracked this difficult-to-lend segment with its unique cluster-based credit appraisal approach & optimally digitized phygital model.
Speaking on the new development, Samir Mehta, Deputy CEO of Aye Finance said, “India’s MSMEs are undeniably the backbone of the economy. However, they require a constant inflow of credit and are unfortunately underserved when it comes to financial services. We have been serving the credit needs of the grassroots businesses in Maharashtra since 2019 and with the current expansion to the new cities, we will bring an even larger number of them in to the folds of organized lending bringing us closer to our goal of nationwide financial inclusion.”
Aye Finance also provides “beyond financing” support to the micro enterprises through its not for profit arm FAME (Foundation for Advancement of Micro Enterprises) and has become a strong partner in their journey towards new-age India.
