U GRO Capital, a lendingtech platform based in India, has announced its successful fundraising efforts, securing INR 340 Cr ($41.3 Mn) from IFU and long-term shareholders. This includes a preferential allotment of INR 240 Cr to IFU, a global development financial institution, via its Danish Sustainable Development Goals Investment Fund, as well as INR 101 Cr from shareholders through a qualified institutions placement (QIP).

Founded in 2018, U GRO Capital is listed on the NSE and BSE stock exchanges and aims to create an institutionally owned, independently supervised, and professionally managed fintech platform in the listed world, providing an opportunity for public market institutional investors, HNIs, AIFs, PMS, and retail investors to invest in it.

With this recent capital infusion, U GRO Capital is poised to continue its mission of changing the lives of small businesses and achieving its goals at an accelerated pace.

Commenting on the successful fundraising announcement, U GRO Capital's Vice Chairman and Managing Director, Shachindra Nath, stated, "We have seen multiple FinTech and NBFCs that were created as private ventures and then being floated in the Public Market at a significant premium.

It was our desire to create an institutionally owned, independently supervised, and professionally managed FinTech in the listed world so that the opportunity is available to the large universe of Public Market Institutional Investors, HNIs, AIFs, PMS, and Retail Investors."

The Indian fintech market is expected to reach a $1.3 Tn market opportunity by 2025, with lendingtech predicted to account for $616 Bn during the forecasted period.

U GRO Capital aims to gain a 1% market share, supporting one million small businesses in India, by providing them with easy access to credit.

The successful fundraising efforts were made possible through the support of long-term shareholders, including insurance companies, AIF, and other financial institutions. With IFU as a partner, U GRO Capital is confident that it can continue its mission of providing small businesses with the financial support they need to grow and succeed.

References:

- U GRO Capital Raises Rs 340 Cr From Marquee Institutional Investors

- Fintech Startup U GRO Secures $41.3 Mn To Offer Credit To MSMEs

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