MICROCAPITAL BRIEF: Aye Finance Borrows $10m from Catalyst Trusteeship for On-lending to MSEs in India

Aye Finance, an online lender in India, recently received USD 10 million in debt financing from India-based Catalyst Trusteeship via Catalyst’s investment vehicles Masala Investment Sarl and Asian Access Vehicle (AAV) Sarl. Through a mobile-phone application, Aye provides micro- and small enterprises with access to loans of INR 300,000 (USD 4,100) to INR 1,000,000 (USD 13,700) using credit appraisal technology that analyses “credit habits and seasonal swings in business” as well as other “financial, behavioral and psychometric parameters.”

As of December 2020, the firm reports total assets of INR 2.9 billion (USD 72 million), including 155,000 active loans. The company does not accept deposits. Aye is based in the city of Gurgaon and was founded in 2014.

Founded in the city of Pune in 1997, Catalyst offers services in areas such as debentures, employee benefits, securitizations, software escrow and document security. During 2019, it issued loans totaling INR 589,000 crores (USD 80 million).

By Sai Bommineni, Research Associate

Sources and Additional Resources

Inc42 article
https://inc42.com/buzz/exclusive-aye-finance-bags-10-mn-in-debt-from-catalyst-trusteeship/

Aye Finance homepage
https://www.ayefin.com

Aye Finance financial information
https://ayefin.com/policies/#financial_statements

Catalyst Trusteeship homepage
https://www.catalysttrustee.com

Catalyst Trusteeship financial information
https://www.catalysttrustee.com/periodical-statements-submitted-to-sebi/

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