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UGRO Capital, a DataTech NBFC focused on MSME financing, announced that it has raised INR 2.5 billion from the Asian Development Bank (ADB) through non-convertible debentures (NCDs).
“This transaction is a testament to UGRO Capital’s ability to forge partnerships with and attract capital from globally reputable DFIs. We share a common vision of financial inclusion with impact funding organizations. We are excited to work with ADB to meet the diverse financial needs of India’s underserved MSMEs. Impact investors are a key funding partner to bridge the huge credit gap in India’s MSME sector, and we continue to leverage our technology and credit expertise to serve MSMEs across all sectors through our multi-channel distribution model. We will continue to provide this,” Shachindra said. Mr. Nath, Founder and Managing Director of UGRO Capital.
Founded in 1993, the financial services provider provides customized loans to customers across eight industries: healthcare, education, chemicals, food processing/FMCG, hospitality, electrical equipment and parts, auto parts, and light industrial. We aim to meet the financial needs of small and medium-sized enterprises operating in the field. solution.
“We are delighted to partner with UGRO Capital in our mission to empower MSMEs in India. MSME Finance is a key driver of financial inclusion and UGRO Capital’s mission to solve the financing needs of small and medium enterprises is This is consistent with our vision of promoting inclusive and sustainable business and prosperity in Asia and the Pacific,” said Suzanne Gabouly, ADB Private Sector Director.
UGRO, which is listed on NSE and BSE, has assets under management worth Rs 83,638 crore as of December 2023. In the last five years, we have raised a total of Rs 91,378 crore in equity and debt from various institutional sources.
In December 2023, it received a loan of Rs 2.5 billion through non-convertible debentures (NCD) from FMO, the Dutch entrepreneurial development bank.
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