Triple Jump, MicroVest Lend $10 Million to Indian Microfinance Institution Aye Finance

Aye Finance, a non-banking financial company-microfinance institution (NBFC-MFI) in India, recently issued $10 million in non-convertible debentures in undisclosed portions to two microfinance fund management firms, Netherlands-based Triple Jump BV and US-based MicroVest Funds.

Aye intends to use the proceeds to expand its small and medium-sized enterprise (SME) loan portfolio. Sanjay Sharma, the managing director and founder of Aye, reportedly said, "the confidence global investors like Triple Jump and MicroVest instil in us by offering us funds for on-lending further strengthens our resolve to transform micro enterprise lending in India."