Accion sells stake in Aye Finance to A91 Partners

  • Gurugram-based Fintech lending firm Aye Finance on Thursday announced that Accion, one of its early investors, has sold its stake in the startup to Mumbai-based A91 Partners, which launched its first fund only in 2019.Accion, the global non-profit organisation that has a commitment to create a financially inclusive world, has made its impact in microfinance and fintech impact investing for more than 50 years.
  • Aye Finance raises Rs 107 Cr in debt funding from Swiss-based BlueOrchardCommenting on the development, Sanjay Sharma, Founder and Managing Director, Aye Finance, said, ” Accion has been a supportive partner in our transition from a startup to a mid-size organisation.
  • The firm’s advisory team also worked with Aye on the design of a mobile app that allows its customers to digitally record sales and purchase transactions, to enhance lending decisions.
  • Founded in 2014 to address the credit challenges of the unbanked micro enterprises, Aye Finance had support from some key investors like SAIF Partners, CapitalG, Falcon Edge, HDFC, ICICI, DCB Bank, FMO, and BlueOrchard.

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