U GRO Capital Launches SME Lending Operations
U GRO Capital, small business lending platform listed on the Bombay Stock Exchange, launched its operations in Karnataka.
Opening their Bengaluru office is part of U GRO Capital’s strategy to disburse loans between INR 10 lakhs & 5 crores to small businesses operating in 8 identified sectors.
Founded by Mr. Shachindra Nath, a financial services veteran, U GRO Capital aims to create highly customized customer journeys by building sector specific products, assessment frameworks & distribution networks.
U GRO Capital has developed a truly next generation, big data driven lending platform which leverages digital capabilities across the value chain – customer acquisition, credit underwriting & post-disbursal monitoring.
In the initial phase, U GRO Capital will have 9 branches in Ahmedabad, Delhi, Pune, Hyderabad, Chennai, Bengaluru, Kolkata, Jaipur & Mumbai, which will overlap with large SME clusters. The company has evaluated 1,300 channel partners (basis multiple parameters like portfolio performance, technology readiness), of which the company has narrowed down on approximately130 partners.
