U GRO, Fintech Startup Offering Credit to MSMEs, Raises $41.3 Million in Funding Round

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IFU and long-term shareholders have invested INR 340 Cr ($41.3 Mn) in U GRO Capital, a fintech startup. The company’s board has approved a preferential allotment of INR 240 Cr to IFU via its Danish Sustainable Development Goals Investment Fund, while the remaining INR 101 Cr came from shareholders including insurance companies, AIF, and other financial institutions through a qualified institutions placement (QIP). The startup plans to use the funds to provide credit to MSMEs and improve its balance sheet. The equity fund raise is subject to customary closing conditions, including regulatory and shareholder approvals.

Founded in 2018, U GRO Capital is a lendingtech platform listed on NSE and BSE stock exchanges. The startup’s founder, Shachindra Nath, aims to create an institutionally owned, independently supervised, and professionally managed fintech in the listed world to enable public market institutional investors, HNIs, AIFs, PMS, and retail investors to invest in it. In 2018, the founder acquired listed NBFC ‘Chokhani Securities Limited’ and raised over INR 900 Cr from NewQuest, PAG, ADV Capital, Sameena Capital, and other domestic family offices and public market investors.

In India, U GRO Capital competes with other lendingtech startups such as Lendingkart, InCred, LoanTap, CredAble, Money View, among others. According to an Inc42 report, India’s fintech market is expected to become a $1.3 Tn market opportunity by 2025, with lendingtech predicted to account for $616 Bn during the forecasted period.

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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sarthak Luthra
Sarthak Luthra
Hey, there! I am the tech guy. I get things running around here and I post sometimes. ~ naam toh suna hi hoga, ab kaam bhi dekhlo :-)

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U GRO, Fintech Startup Offering Credit to MSMEs, Raises $41.3 Million in Funding Round

IFU and long-term shareholders have invested INR 340 Cr ($41.3 Mn) in U GRO Capital, a fintech startup. The company’s board has approved a preferential allotment of INR 240 Cr to IFU via its Danish Sustainable Development Goals Investment Fund, while the remaining INR 101 Cr came from shareholders including insurance companies, AIF, and other financial institutions through a qualified institutions placement (QIP). The startup plans to use the funds to provide credit to MSMEs and improve its balance sheet. The equity fund raise is subject to customary closing conditions, including regulatory and shareholder approvals.

Founded in 2018, U GRO Capital is a lendingtech platform listed on NSE and BSE stock exchanges. The startup’s founder, Shachindra Nath, aims to create an institutionally owned, independently supervised, and professionally managed fintech in the listed world to enable public market institutional investors, HNIs, AIFs, PMS, and retail investors to invest in it. In 2018, the founder acquired listed NBFC ‘Chokhani Securities Limited’ and raised over INR 900 Cr from NewQuest, PAG, ADV Capital, Sameena Capital, and other domestic family offices and public market investors.

In India, U GRO Capital competes with other lendingtech startups such as Lendingkart, InCred, LoanTap, CredAble, Money View, among others. According to an Inc42 report, India’s fintech market is expected to become a $1.3 Tn market opportunity by 2025, with lendingtech predicted to account for $616 Bn during the forecasted period.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Sarthak Luthra
Sarthak Luthra
Hey, there! I am the tech guy. I get things running around here and I post sometimes. ~ naam toh suna hi hoga, ab kaam bhi dekhlo :-)

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