Ruloans, an Indian credit distribution company, has formed a relationship with UGRO Capital, a DataTech MSME-lending platform, in order to access the expanding market for renewable energy funding.
Ruloans functions as a direct sales agent (DSA) providing a comprehensive range of financial services, encompassing loans, credit cards, and insurance. As the government shifts towards sustainable energy sources, it has lately incorporated rooftop solar financial products into its lending portfolio.
Ruloans has formed a relationship with UGRO Capital with the goal of attracting new consumers and increasing their share of the solar finance market. This comes in response to the government’s increased funding for solar energy projects, such as the Prime Minister’s Surya Ghar Yojana.
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In FY23, Ruloans captured a substantial portion of the loans and financial services distribution market, amounting to a business value of Rs 26,833 crore. The company aimed to generate a revenue of Rs. 100 crore from the solar sector in the fiscal year 2025. In FY25, the company successfully introduced a solar category business that generated significant revenue.
The company introduced the RUCONNECT application last year in order to provide a user-friendly and easily accessible platform for millions of individuals seeking financing.
Amit Mande, Chief Revenue Officer, UGRO Capital, said: “As MSME lending is our core focus, tapping into the rapidly growing solar finance sector is a natural progression for UGRO Capital. This partnership is a win-win, combining UGRO’s technological expertise with Ruloans’ robust marketing and distribution strengths to drive impactful growth in this emerging segment, carrying forward the message UGRO has believed in since inception – that MSME Accha Hai.”
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