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Aye Finance expands presence in UP, opens two new branches in Modinagar and Hapur

New Delhi, May 8, 2017: Aye Finance, one of India’s fastest growing finance company in the micro and small enterprise lending space, is expanding its foot print in UP by opening two new branches in Modinagar and Hapur.

Sanjay Sharma-Co-Founder & Managing Director, Aye Finance
 Sanjay Sharma-Co-Founder & Managing Director, Aye Finance

Aye Finance expands presence in UP, opens two new branches in Modinagar and Hapur

The Company, which was founded with a vision to transform the micro and small scale enterprise financing in India, has very aggressive expansion plans for the year 2017-18 and proposes to open close to 40 new branches this year, strengthening its presence in the existing states of Delhi, Haryana, Punjab, Rajasthan, UP, Karnataka and Tamil Nadu and penetrating into new states of Andhra Pradesh and Madhya Pradesh to deepen its reach.
Founded by professional bankers Sanjay Sharma and Vikram Jetley in 2014, Aye Finance now has 35 branches and a team size of over 500 employees.  Aye has successfully made a ground level connect with India’s thriving, albeit underserved MSME sector and offers customised and innovative financial products to match the sectors business needs.

“According to the CRISIL Inclusix Report June 2015, Uttar Pradesh’s level of financial inclusion is ranked “below average”. We at Aye Finance are committed towards including the credit worthy yet financially excluded micro and small enterprises into the ambit of formal lending by making credit easily available and accessible. The two new branches at Modinagar and Hapur will further advance our mission of providing the much needed financial assistance to the MSMEs spread across Uttar Pradesh. It will help us strengthen our foot hold in UP while helping meet the national imperatives of financial inclusion” said Sanjay Sharma.

Aye Finance has been serving the micro and small enterprises in UP since 2014. It has branches in Agra, Meerut, Firozabad, Saharanpur, Kanpur, Aligarh, Bulandshehar, Mathura and Lucknow.

About Aye Finance

Incorporated in the year 2014, Aye Finance is a new age finance company providing business loans to the small and micro enterprises across India. Founded by Sanjay Sharma and Vikram Jetley, Aye Finance is headquartered in Gurgaon, spreading its services across 35 branches and employing over 500 employees. As a Non-Banking Financial Company, Aye Finance is proud to make mortgage, hypothecation and term loan services accessible to India’s thriving and underserved MSME sector.

Aye Finance distinguishes itself by utilizing technology in mitigating the challenges faced by MSMEs in securing loans. By deploying a cloud-computing architecture and automating front-end (eCRM), Aye Finance is able bring down the cost of delivery. It is part of Aye Finance’s vision to leverage technology prowess of today for improving the productivity of field force, detecting frauds and exercising dual control on processes.

With its consistent and organized efforts, the Organization aspires to be recognized as a leadership enterprise in the country. Aye Finance is backed by three reputed Fund Houses – Accion International, SAIF Partners and LGT Impact ventures.