Aye Finance
- Company typePublic
- Founded2014
- HeadquartersGurugram, India
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
Aye Finance firmographics
Firmographics- Name
- Aye Finance
- Legal name
- Aye Finance Limited
- Website
- https://ayefin.com
- Company type
- Public
- Founded year
- 2014
- Operating status
- Ipo
- Headcount range
- 1,001–5,000 employees
- Ownership category
- akta.pro rank
Aye Finance industry classification
Industry- Product category
- MSME Lending
- SIC
- Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Merchant Cash Advance (MCA) & Revenue-Based Financing (FSAKAGAD)
Keywords
Where Aye Finance is headquartered
LocationHeadquarters
- HQ city
- Gurugram
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Aye Finance business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain
Revenue model
- Interest Income from MSME Lending: Aye Finance generates revenue primarily through interest income on loans provided to micro, small, and medium enterprises. The company offers small-ticket working capital loans averaging Rs 1.5 lakh across manufacturing, trading, services, and allied agriculture sectors.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Aye Finance product offering
Product offeringCore offering
Aye Finance is a non-banking financial company (NBFC) that provides small-ticket working capital loans, averaging Rs 1.5 lakh, to underserved micro and small enterprises (MSMEs) across manufacturing, trading, services, and allied agriculture sectors in India. The company operates through a proprietary branch-based distribution model with 568+ branches across 18 states and 3 union territories, and uses Generative AI-powered image-based underwriting to assess credit-invisible micro-entrepreneurs. It also offers a Buy Now, Pay Later (BNPL) product called SwitchPe for Kirana stores and is expanding its secured lending portfolio.
Product overview
Aye Finance operates as an NBFC (Non-Banking Financial Company) providing MSME lending services primarily to micro and small enterprises. The core product portfolio consists of small-ticket business loans averaging ₹1.5 lakh targeting approximately 7 crore unorganized micro-enterprises in India. The company offers unsecured working capital loans and is expanding its secured lending (mortgage-backed) products. A sub-brand, SwitchPe, provides BNPL services specifically for Kirana stores. All lending operations span manufacturing, trading, services, and allied agriculture sectors across 18 states and 3 union territories.
Differentiator
Problem solved
Functional benefit
Brands
- SwitchPe: BNPL (Buy Now, Pay Later) product for Kirana stores in India, enhanced with a £200,000 grant from TRANSFORM initiative.
Products and services
- MSME Business Loans Small-ticket working capital and business loans averaging Rs 1.5 lakh for micro and small enterprises. Serves borrowers across manufacturing, trading, services, and allied agriculture sectors with focus on underserved MSMEs lacking formal credit access.
- SwitchPe BNPL Product A Buy Now, Pay Later (BNPL) digital payment and credit product targeting Kirana (small grocery) store owners in India. Provides working capital support and short-term credit facilities to underserved micro-enterprises in the retail sector.
- Secured Lending Products Mortgage and secured lending products that the company is scaling as part of its portfolio diversification strategy, with secured lending book targeted to grow from 22% to 30% of total portfolio.
Quantifiable outcome
- Revenue CAGR of 50.3% between FY2022-2025
- +5 more outcomes
Companies that use Aye Finance
Customer profileSegments3 records
Ideal customer profiles2 records
Aye Finance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature1 record
Aye Finance partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- India Ratings and Research (Ind-Ra)majorCredit rating agency that upgraded Aye Finance's credit rating from 'IND A' to 'IND A+' with Stable Outlook, and upgraded commercial paper rating to 'IND A1+' from 'IND A1', reflecting strengthened loan book and improved capitalization.
Scale indicators18 records
Recent moves7 records
Expansion highlights5 records
Aye Finance competitors and assessment
Company assessmentDirect peers
- Lendingkart Finance: Leading digital MSME lending fintech in India providing working capital and business loans to small businesses. Closely comparable to Aye Finance in target customer segment (underserved MSMEs) and product offering (small-ticket business loans), though primarily digital vs. Aye's branch-led model.
- CreditAccess Grameen: Leading Indian microfinance institution providing income-generating loans to poor women in rural areas. Comparable to Aye Finance in serving unorganized micro-enterprises and small businesses at the bottom of the pyramid, though primarily group-based lending model.
- Kinara Capital: India-based NBFC providing collateral-free business loans to micro and small enterprises, particularly in manufacturing and trading sectors. Highly comparable to Aye Finance in serving thin-file borrowers with limited formal credit history, with similar average ticket sizes and geographic focus on tier-2+ markets.
- Muthoot Microfin: Indian microfinance NBFC providing loans to micro-enterprises and women borrowers through joint liability groups. Comparable to Aye Finance in microenterprise lending segment and geographic focus on underserved Indian markets, with similar customer profiles.
- MAS Financial Services: Listed Indian NBFC providing MSME loans, micro-enterprise loans, and two-wheeler financing with focus on underserved segments. Comparable to Aye Finance in serving micro-enterprises through branch network and similar geographic footprint in India.
- Spandana Sphoorty Financial: Indian microfinance company providing small-ticket loans to women entrepreneurs and micro-enterprises. Comparable to Aye Finance in serving informal sector borrowers at similar ticket sizes, with overlapping geographic presence in Indian states.
- Ugro Capital: Listed Indian NBFC specializing in MSME lending with focus on data-driven underwriting for small businesses. Direct peer to Aye Finance with comparable target segment, loan products, and growth trajectory in the underserved MSME lending space.
- Fusion Microfinance: Listed Indian microfinance institution providing credit to micro-entrepreneurs and women self-help groups. Comparable to Aye Finance in serving the unorganized micro-enterprise segment, though with group lending model vs. Aye's individual lending approach.
Broad incumbents
- Bajaj Finserv: Large diversified Indian financial services company offering MSME/business loans among many other products. Overlaps with Aye Finance in small business lending segment but operates across consumer durables, insurance, and asset management, making it a much broader incumbent.
- Cholamandalam Investment and Finance: Major Indian NBFC with diversified portfolio including vehicle finance, home loans, and SME/MSME lending. Comparable to Aye Finance in MSME lending but operates at significantly larger scale with broader product suite and established branch network.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Aye Finance social profiles
Digital presenceAye Finance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Aye Finance leadership team
Management profileNumber of profiles
Profiles7 records
Aye Finance subsidiaries and ownership
Company hierarchySubsidiaries1 record
Aye Finance funding detail
Funding detailFunding overview
Funding rounds35 records
Investors31 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Aye Finance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Aye Finance
What does Aye Finance do?
Aye Finance is a non-banking financial company (NBFC) that provides small-ticket working capital loans, averaging Rs 1.5 lakh, to underserved micro and small enterprises (MSMEs) across manufacturing, trading, services, and allied agriculture sectors in India. The company operates through a proprietary branch-based distribution model with 568+ branches across 18 states and 3 union territories, and uses Generative AI-powered image-based underwriting to assess credit-invisible micro-entrepreneurs. It also offers a Buy Now, Pay Later (BNPL) product called SwitchPe for Kirana stores and is expanding its secured lending portfolio.
Is Aye Finance a public or private company?
Aye Finance is a public company. It is classified as public and is currently ipo.
When was Aye Finance founded?
Aye Finance was founded in 2014. It employs 1,001 to 5,000 people.
Where is Aye Finance based?
Aye Finance is headquartered in Gurugram, India, in the Asia region.
How does Aye Finance make money?
One revenue line is on record: interest Income from MSME Lending.
Who are Aye Finance's main competitors?
Direct peers on record are Lendingkart Finance, CreditAccess Grameen, Kinara Capital, Muthoot Microfin, MAS Financial Services, Spandana Sphoorty Financial, Ugro Capital and Fusion Microfinance. Broad incumbents are Bajaj Finserv and Cholamandalam Investment and Finance.
Does Aye Finance have an API?
No public API is recorded for Aye Finance.
What industry is Aye Finance in?
Aye Finance's product category is MSME Lending. Its primary akta.pro industry code is FSAKAGAD, Merchant Cash Advance (MCA) & Revenue-Based Financing. Its SIC code is 6153.