Led · Equity · Nov 2023

Bayport Colombia originates loans and financial products targeted at underbanked Colombians, including people with no credit history or in economically stressed situations. The company will use a transaction of up to $20 million to finance new loan originations. That financing is being delivered in two disbursements by Blue Earth Capital, a Swiss investment fund focused on sustainable and impact-oriented financing. Bayport frames the move as aligned with its mission to promote greater financial and labor inclusion across Colombia. CEO Lilian Perea said the company raised more than $120 million in 2023, which Bayport says strengthened its ability to pursue growth. With sights on 2024, Bayport emphasizes continuous growth and continued contribution to the country’s socioeconomic development. Bayport Colombia is a financial services provider specializing in payroll lending (libranzas) for underserved pensioners and public-sector employees in Colombia. Its core product is employer-administered payroll loans that are repaid through automatic payroll deductions. These libranzas facilitate access to credit for individuals with limited credit histories or lower/riskier credit scores and help rebuild credit profiles. The company is aiming to expand access to payroll loans for public-sector workers and pensioners. MicroVest announced a $4 million investment in Bayport Colombia to support that expansion. The article did not disclose additional operating metrics or other investors.

Led · Debt Financing · Jan 2023

NeoGrowth is a Mumbai-based fintech that provides technology-led, quick, and hassle-free loans to MSMEs across more than 70 segments. It serves businesses from neighbourhood kirana stores to eateries and salons across over 25 locations in India. The startup says it has served over 150,000 customers and disbursed over $1 billion in loans. Founded by Dhruv Khaitan and Piyush Khaitan, NeoGrowth plans to accelerate MSME growth and promote financial inclusion using the digital payments ecosystem. The company intends to use the newly raised capital to expand reach, improve efficiency, and integrate underserved micro-entrepreneurs into mainstream financing. Its financing strategy includes debt facilities from global investors and a history of capital raises from development and impact-focused backers. NeoGrowth is a fintech lender that provides loans to first-time entrepreneurs, women business owners, and underserved small businesses across roughly 70 MSME segments. The company serves borrowers across 25 locations and is connected with over 1.5 lakh MSMEs. It has Rs 1,600 crore of assets under management and has disbursed over USD 1 billion in loans, according to MD & CEO Arun Nayyar. NeoGrowth was founded by Dhruv Khaitan and Piyush Khaitan about a decade ago. The firm says new capital will be used for on-lending and entering new markets as it continues to scale its MSME lending operations. NeoGrowth is a non-banking finance company focused on micro, small and medium enterprises (MSMEs) in India. Its core offerings include digital payments-based lending, a modular product suite, analytics-based underwriting, and flexible repayment options to enable credit access for SMEs. The company has been in SME lending for nearly a decade and reports engagement with over 1 lakh customers and more than $1 billion disbursed across 25 locations in India. NeoGrowth recently secured $20 million from the U.S. International Development Finance Corporation (DFC) through an external commercial borrowing. The facility has a five-year tenor with a two-year moratorium on principal and will be used for onward lending to SME customers per ECB guidelines. Management says the capital will help extend credit, drive the firm’s mission to fund small businesses via the digital ecosystem, and create a positive impact on SMEs. NeoGrowth Credit Pvt Ltd is an Indian digital lender that underwrites loans for small and medium business owners by analyzing digital payments data generated from daily sales. Its lending platform features flexible, small, daily automated repayments tailored to merchant cash flows. Led by Managing Director PK Khaitan, the company focuses on expanding access to credit for small businesses. NeoGrowth intends to use the new funds to expand lending into India’s largest cities and other urban areas. The company is backed by investors including Omidyar Network, Khosla Impact, and Accion Frontier Inclusion Fund, alongside Aspada and Quona Capital. In conjunction with the round, LeapFrog’s Michael Fernandes joined NeoGrowth’s Board of Directors. NeoGrowth is a Mumbai-based fintech that provides credit to small and mid-sized retail enterprises. Using a data- and technology-driven platform, it offers flexible loan products secured against retailers' future credit and debit card sales and says it is the first company in India to offer this product. Loans are delivered via NeoGrowth's in-house digital lending platform, which the company cites for flexible repayment terms and minimal credit-history requirements. Management reports that more than three in four customers return for a new loan. NeoGrowth has now raised $35 million (INR 225 crores) in total and will use proceeds to build its loan book and invest in technology, brand, and distribution. Investors and company leadership have highlighted the firm's technology advantage and potential to expand financial inclusion among retailers.

Led · Debt Financing · Jan 2023

Varthana Finance operates as an NBFC dedicated to the affordable education sector, underwriting loans that help low- and middle-fee private schools improve facilities, purchase assets, and expand capacity. The firm’s core offering is long-term, tailored financing that enables schools—especially those in peri-urban and rural areas—to invest in classrooms, technology, and critical water, sanitation, and hygiene (WASH) infrastructure. By targeting this underserved segment, Varthana aims to raise overall learning standards and attendance, with a particular emphasis on improving outcomes for girls. International impact investors have consistently backed the model for its blend of social returns and prudent lending practices. In its latest transaction, the company secured about USD 16.5 million in debt, underscoring healthy lender confidence and giving Varthana fresh capacity to grow its loan book. Management believes the added capital will translate into safer, healthier learning environments and support millions of students nationwide. Although the company keeps its operating metrics private, the scale of its recent raise indicates continued momentum in both reach and balance-sheet strength.

Led · Debt Financing · Jul 2018

Aye Finance is a Gurugram-based non-banking financial company. The company has raised about $30 million (Rs 250 crore) in a Series G round. The Series G was led by Singapore’s ABC Impact. ABC Impact is an investor backed by Temasek and Temasek Trust. The article does not disclose other investors, terms or operating metrics. The report appeared as part of coverage of India deals totaling $363 million. Aye Finance is an Indian non‑banking finance company and microfinance lender focused on providing business loans to MSMEs. The company recently closed a EUR 15 million debt transaction with Invest in Visions GmbH. The deal was announced as a debt fund transaction facilitated in collaboration with Agents For Impact. Articles report the amount as roughly INR 137 crore and say the funding will support lending expansion. Coverage positions Aye Finance as one of the leading MFI/NBFC players in India. No operating metrics (revenue or user counts) were disclosed in the sourced articles. Aye Finance operates a digital lending platform that provides mortgage, hypothecation and term credit to underserved micro enterprises, with an average ticket size of $1,800. The company uses in-house technology and analytics to underwrite and deliver financial solutions tailored to small businesses. To date it has disbursed more than $959 million of credit to over 700,000 unorganized businesses and reports over $959 million of assets under management. Aye has a nationwide footprint across 22 states through 395 offices. Financially, revenue grew 45% to $77.10 million in FY2023 from $53.12 million the prior year, and it delivered $9.59 million of profit after tax in the first six months of FY2024. The company plans to go public in the financial year 2026. Aye Finance is an Alphabet-backed, new-age non-banking finance company that provides credit solutions to small retailers. Last month it launched an on-tap BNPL product called SwitchPe to offer credit lines for procurement of supplies. The company says it will use a recently awarded grant to address working-capital challenges faced by kirana stores and expand SwitchPe’s reach. Through the grant Aye will leverage Unilever’s FMCG expertise to make SwitchPe available to a larger number of grocery-store owners, including women. The article frames the effort against the backdrop that kirana stores account for approximately 88% of India’s retail sector. Aye’s collaboration is via TRANSFORM, which combines grant funding, business insight and wider resources for entrepreneurs. Aye Finance focuses on providing customized business loans to the excluded microenterprise segment, using a proprietary cluster-based credit assessment methodology combined with AI to assess credit risk without traditional documentation. Founded in 2014, the lender says it has addressed the credit needs of over 450,000 unorganized grassroots businesses. The company plans to deploy additional capital to support growth and enable inclusion of microenterprises into the formal economy. Management reports a surge in credit applications as businesses rebuild after pandemic disruptions. The current financing is intended to expand lending capacity to meet this increased demand. Aye emphasizes affordable pricing and tailored products for small entrepreneurs.