SME lender Aye Finance has raised 440m rupees ($6.2m) of debt from Triodos Bank’s asset management arm.
Triodos Investment Management’s investment is said to be used to reinforce offshore interest on the Indian micro and small enterprise market.
This is the second overseas fund raised by the company in the last four months, after it received an 800m rupees ($12.5m) investment from Swiss impact manager Blue Orchard.
Aye Finance is backed by private equity firm Accion and is said to be in the process of mobilising more overseas investments to meet its long term fund requirement.
The company is planning to raise another 2bn rupees ($31m) from foreign and local investors intending to treble its loan books to about 41bn rupees ($640m) by the end of 2018.
Copyright FinTech Global 2017