CapitalG, the growth-stage investment arm of diversified conglomerate Alphabet, led a $21.5m series C round for India-based loan provider Aye Finance, according to LiveMint.
SAIF Partners and LGT Venture Philanthropy also contributed to the series C round.
Founded in 2014, Aye Finance provides mortgage, hypothecation, and term loans to micro, small and medium-sized enterprises across 10 states in India. The company primarily targets clients that have traditionally have to rely on more informal sources.
Aye Finance previously raised $10.3m in a series B round led by LGT, with participation from SAIF Partners and Accion, after the latter two had supplied Rs200m ($3m) in December 2015. Accion and SAIF had already injected an undisclosed amount in February 2015.