Founded in 2014 and led by Sanjay Sharma, Managing Director, Aye is an Indian non-banking finance company that uses a cluster-based approach to provide working capital loans to micro, small, and medium enterprises (MSMEs).
Headquartered in Gurgaon, it has 104 branches across 101 cities employing over 1700 employees. Aye now serves over 70,000 clients and has loaned roughly $100 million to MSMEs.
Accion maintains an investment through its later-stage initiative Accion Global Investments and continues to provide advisory services to the company.
Venture Lab invests capital in and provides support to innovative fintech startups that improve access, quality, and affordability of financial services for the underserved at scale. Since launching in 2012, the initiative has invested in more than 35 early-stage startups that operate in over 25 countries worldwide.
Venture Lab previously announced exits from Palo Alto and Mexico City-based payments solutions company Clip in February 2017 and India-based lender Varthana in November 2016.