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India's Aye Finance has been lending to small and medium-sized businesses for more than a decade, but the company's latest round of funding will allow it to expand its reach even further.
The company says it has secured $15 million in debt funding, which will be used for on-lending to micro, small, and minority-owned businesses, the Times of India reports.
"This new funding will allow us to reach out to a larger population of micro-enterprises and offer them innovative financial products designed to meet the diverse needs of the diverse population," Aye Finance's CFO says.
The company says it has an active client base of more than 4.5 million.
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