Aye Finance is seeking to raise $171 million in its IPO, aimed at expanding its loan portfolio to support critical financial access for India's underserved small businesses.
With $588 million in assets under management and an expanding presence across 22 Indian states, Aye Finance plays a vital role in catering to the micro-enterprises often excluded from traditional banking.
The startup's revenues reached $122.5 million in fiscal 2024 despite an increase in non-performing assets, highlighting both growth opportunities and challenges in the evolving financial landscape.
Aye Finance's IPO reflects a record year for Indian startups, with financial services relying heavily on the MSME sector, which contributes about 30% of India's GDP.
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