Aye Finance Raises $10 Mn To Boost Micro-Lending Portfolio In India

Fintech lending company Aye Finance has raised $10 Mn (INR 71.32 Cr) in a debt funding round from global impact investment manager, responsAbility and Northern Arc, through the issuance of non-convertible debentures. This is the twelfth debt funding round raised by Aye Finance so far. The company has raised a total of $102.25 Mn (INR 727.5 Cr) as a combination of equity and debt funding since its inception in 2014.  The venture is equity funded by four venture capital funds including SAIF Partners, CapitalG, Accion International and LGT. With this…

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LendInvest raises $39.5M to grow its P2P property finance platform

A cloud hangs over the UK housing market as the UK government stumbles slowly through its negotiations to leave the European Union. But startups that are bringing innovative twists to housing finance seem to be singing a different tune. Today, LendInvest, a peer-to-peer platform that connects property buyers in the UK with people willing to finance those purchases (bypassing traditional mortgage lending infrastructure in the process), announced that it has raised around $39.5 million (around £30.5 million) in a Series C round of funding led by existing investor Atomico, which participation also from GP Bullhound…

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IIM-Ahmedabad raises PG management program fee to Rs22 lakh

IIM-Ahmedabad had last year raised the fee for the two-year programme to Rs21 lakh from Rs19.5 lakh. Photo: Mint Ahmedabad: The Indian Institute of Management Ahmedabad (IIM-A) on Saturday raised the fee of its flagship post-graduate program (PGP) in management for 2018-20 to Rs22 lakh from Rs21 lakh. The institute’s director Erol D’Souza gave the information while talking to reporters on the sidelines of its 53rd convocation here. The institute had last year raised the fee for the two-year programme to Rs21 lakh from Rs19.5 lakh. D’Souza said the IIM-A Board,…

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Aye Finance raises Rs 25 cr from Hinduja Finance & Intellegrow

Delhi-based MSME lending platform Aye Finance has raised Rs 25 crore from Hinduja Leyland Finance and Intellegrow. This is the second securitisation deal for the company. Last year it had raised Rs 10 crore by securitising part of its portfolio. Sanjay Sharma, Founder and Managing Director Aye Finance said, “The loan requirements of these businesses ranges between Rs 50,000 and Rs 5 lakh, which makes servicing these small ticket loans an expensive proposition. We at Aye have not only designed our processes and automation at minimum cost but we have also partnered with…

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Ola Raises Rs. 670 Crores From Ratan Tata-Backed Fund, Others

SoftBank-backed Ola has raised Rs. 670 crores ($104.4 million) in fresh funding from investors including UC-RNT Fund, a venture between the University of California and Ratan Tata. While UC-RNT Fund has pumped in Rs. 267.99 crores, another Rs. 402 crores has been infused by FO Mauritius I Ltd, according to regulatory filing by ANI Technologies – which runs Ola. However, the valuation of the company benchmarked against the fresh round of funding could not be ascertained. The said shares were allotted to the investors on March 31, 2017. An email…

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Spotify raises $1billion in ‘debt financing’

Music streaming company Spotify has raised $1 billion (£695 million) in debt financing to take on rivals Apple, Tidal and Google. First reported by the Wall Street Journal, the deal was later confirmed by Spotify according to Techcrunch. Unlike equity, debt financing allows Spotify to add to its resources without potentially accepting a lower valuation in the process. The move is thought to be an attempt to safeguard against the increasing business threat of Apple Music, and to allow Spotify to make strategic acquisitions and spend on research, as well as marketing. The money comes…

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