AI is expanding its footprint to ensure affordable credit is accessible to the historically excluded segment of micro enterprises. The lender has been transitioning to micro enterprise lending in India since 2014 and has since lent 3,00,000. brought more than micro enterprises In the fold of organized credit disbursing Rs 4000 crore to this sector.
In a statement, Sameer Mehta, Deputy CEO – AI Finance said, “Since traditional data sets are not available for grassroots businesses, we have solved this using a methodology that captures the unique patterns of an industry cluster. depends on the use. Our ability to underwrite these ‘thin file’ clients, where little formal data exists, sets us apart in our markets. With the opening of these additional 100 centres, 89 of which are already operational, the number of micro-enterprises funded will increase along with the clusters we serve.
CapitalG (Alphabet Inc Growth Equity Fund), altitude capital, LGT, Falcon Edge Capital, A91 Partners and MAJ Invest have stakes in Aye and have participated in several equity rounds.