UGRO Capital Limited, an NBFC that concentrates on micro, small, and medium-sized enterprises (MSME), raised Rs 1,265 crore.
Existing private equity investor Samena Capital contributed Rs 500 crore, and other institutional investors, such as Aregence and India’s most prominent family offices, also participated in the fundraising.
Read also – Bira 91 Secures $50 Mn Funding Led by Kirin Holdings and Tiger Pacific
The board of directors of UGRO Capital had granted approval for the acquisition of MyShubhLife for an enterprise value of Rs 45 crore through a 64:36 equity-cash transaction. The embedded finance platform MyShubhLife, which is headquartered in Bengaluru, will now function as a wholly-owned subsidiary of UGRO Capital.
UGRO Capital is a lending technology platform that is publicly traded on the stock exchanges. It has created sector-specific statistical scorecards for eight SMEs that are proprietary and allow for the disbursement of loans of up to INR 5 Cr in just 60 minutes.
Shachindra Nath, Founder and Managing Director, UGRO Capital, said: “Our aim has always been to build a data-tech driven lending institution that is institutionally owned, independently supervised, and professionally managed, accessible to public market investors. We’re now closer to our goal of helping all small businesses in India,”
About UGRO Capital
Founded in 1993 by Shachindra Nath, UGRO Capital Limited is a BSE and NSE listed, small business lending fintech platform. The Company is focused on addressing the capital needs of small businesses operating in select eight sectors by providing customized loan solutions.
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.
