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Google Parent Alphabet-backed AyeFinance Looks to Disbursing Credit to 5 Lakh Micro SMEs
September 14, 2019
AyeFinance which is backed by Capital G (Google parent company Alphabet’s investment arm) said that it aims at granting loans to 5 lakh MSMEs in the country. It said that it wants to leverage technology to minimize the challenges faced by MSMEs in obtaining credit.
AyeFinance has disbursed 1,000 crore worth of loans to over 1 lakh MSMEs in India so far i.e. in 5 years since launch. It said that it looks to expand this year by having a footprint in 22 Indian states and opening 60 new branches.
Photo credit: Dr PS Sahana * Kadamtala Howrah on Visualhunt.com / CC BY
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