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NBFC startup UGRO Capital raises Rs.380-Cr from Dutch Development Bank
BSE Announcement YourStory UGRO Capital
Mumbai-based, publicly listed UGRO Capital has raised INR 380 crore through the issuance of 38,000 senior, secured, rated, listed, redeemable and transferable non-convertible debentures (NCDs), fully subscribed by Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), a Dutch development bank.Founded in 1993 by Shachindra Nath, UGRO Capital is a MSME-focused datatech lending platform. UGRO’s embedded merchant finance model delivers credit to MSMEs at the point of business need through partnerships with PhonePe, BharatPe and other payment ecosystems.The proceeds will be used towards financing women-owned and women-led SMEs, youth-owned and youth-led SMEs, and rural SMEs. It will also contribute towards the financing or refinancing of eligible green projects aligned with FMO's sustainability approach.
Between Jan 2018 and Oct 2024, Ugro Capital had attracted about $ 398 M from ADV Partners, IndGrowth, Pacific Alliance Group, TPG Newquest, Samena Capital, Sachin Bansal, DFC, ADB, Impact Fund Denmark and others.For FY25, Ugro Capital had reported about INR 1,396 Cr in Operating Income and about INR 144 Cr in PAT.
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