New Delhi-based Aye Finance, a pan-India player providing unsecured small-ticket business loans to the credit-starved micro-enterprise segment announced that they grew their loan book by 56 per cent during the year 2022-23. 

The company has claimed that after two years of constrained growth during the pandemic, the year 2022-23 saw a surge in credit uptake among micro-enterprises. According to a company statement, Aye has also been able to address this demand from unorganised businesses and helped them get back on their feet post the covid disruption. On 31 March 2023, Aye had an AUM (Asset Under Management) of Rs 2700 core and over 3,00,000 active customers.

Since its inception, The company has provided affordable and customised business loans of over Rs 7000 crore to 6 lakh micro-enterprises and enabled their inclusion into the formal economy. The MSME lender delivered a profit after tax of Rs 60 crore and a revenue of Rs 630 crores for the fiscal ending 31 March 2023.

Commenting on Aye’s performance, Navroz D Udwadia, co-founder and partner, of Alpha Wave Global, Aye Finance’s equity partner, said, “We’ve been early believers of Sanjay and his leadership of Aye Finance since 2018. Aye is serving the small SMEs who are deprived of credit from traditional financial institutions and building real moats – a differentiated cluster-based customer acquisition process and disciplined underwriting/risk management process. Aye’s investments in these processes are bearing fruit – in FY24, Aye is on track to generate best-in-class AUM growth and profitability in its entire peer group. We remain excited about Aye’s prospects as it continues to scale, profitably."

Sanjay Sharma, managing director (MD) of aye finance, said, “After the difficult Covid impacted years, FY23 came as an opportunity to get back to high levels of performance. It gives me immense pride to report that my team has used the opportunity and pushed the envelope to deliver exceptional results. We grew our loan book by 57 percent over the year to Rs 2728 crores and added over one lakh active customers during the year growing our base from 2,00,000 to over 3,00,000 customers.”