Debt financing
MSME lender Ugro Capital raises Rs.250-Cr from ADB
Mumbai-headquartered, small business-focused fintech Ugro Capital has raised INR 250 crore (USD 30 million) through non-convertible debentures (NCDs) from the Asian Development Bank (ADB). The company will use the funding to continue developing its technology and credit expertise to provide services to MSMEs across sectors.Ugro Capital has assets under management of INR 8,363 crore as of December 2023. It has raised INR 9,137 crore in equity and debt over the past five years.In December 2023, Ugro attracted INR 250 crore in financing from FMO, a Dutch entrepreneurial development bank.
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