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Alphabet-backed Indian lender files for $171M IPO
Alphabet's CapitalG-backed Aye Finance, a lender focused on India’s micro, small, and medium enterprises, is seeking to raise $171 million from its
Alphabet’s CapitalG-backed Aye Finance, a lender focused on India’s micro, small, and medium enterprises, is seeking to raise $171 million from its initial public offering, it disclosed in a filing Tuesday. Aye Finance caters to India’s most underserved small businesses, providing critical financial access to micro-enterprises typically excluded from traditional banking systems. The MSME segment contributes approximately 30% of India’s GDP but faces a substantial credit gap estimated at over $650 billion.
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