Recently, NBFC firm (non-banking financial company) Aye Finance Pvt. Ltd. has obtained INR 55 crore from DCB bank through a securitisation deal, according to a media report.
The company will use the funds to grow its loan book and offer affordable and customised credit solutions to micro enterprises in India, NBFC said in its statement, as reported by the daily news, VC Circle.
Vivriti Capital, which administers a platform for institutional debt, has managed by the transaction.
The company was looking forward to strengthening its relationship with DCB Bank, MD of Aye Finance, Sanjay Sharma told the daily news.
Separately, Founder and MD of Vivriti Capital, Gaurav Kumar said The deal validates the fact that high quality originators across asset classes continue to have the backing of debt markets.
In January 2019, NBFC firm received INR 71 crore from asset management firm, responsAbility Investments AG and Northern Arc Capital in the form of debt funds.
In the previous year, NBFC firm had grabbed INR 147 crore in Series C round from SAIF, CapitalG and LGT Impact Ventures for business expansion.