We are delighted to announce a new partnership with U GRO Capital!
U GRO Capital is a listed entity that operates a Fintech lending platform for MSMEs (Micro, Small and Medium Enterprises). With our help, U GRO Capital has raised funds of USD 5 million, which they will be using to extend credit to India’s underserved business sections.
Expressing happiness at the end of the exercise, which took four months to conclude, Vice Chairman and Managing Director of U GRO Capital Shachindra Nath said, “We share a common vision of financial inclusion with impact funding organizations such as EQ. The partnership furthers our purpose to serve India’s underserved business segments. Impact investors are critical funding partners who enable us bridge the enormous credit gap in India’s MSME sector. We will continue to leverage our technology and credit expertise to service MSMEs across the spectrum through our multi-channel distribution model.”
Chuck Olson, one of our managing partners, further elaborated, “MSME Finance is a key driver for financial inclusion, and we are excited to partner with U GRO Capital in our endeavor to move money to meaning. We are confident that U GRO will enable us to positively impact the lives of MSME borrowers. The association will help strengthen our commitment towards greater financial inclusion in India.”
The proceeds from this partnership will serve as a crucial credit link for India’s MSME segment. This will further fuel economic elevation through boosting businesses, accelerating job creation and promoting equality in distribution of opportunities.