UGRO Capital raises Rs 380 Cr from Dutch development bank to expand MSME lending
UGRO Capital has raised the funds through issuance of 38,000 senior, secured, rated, listed, redeemable and transferable non-convertible debentures, fully subscribed by Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.
The Dutch development bank Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) has invested Rs 380 crore in MSME-focused lending platform UGRO Capital Limited. FMO's third investment in UGRO Capital within three years, it will support lending to women-owned and youth-led SMEs, rural SMEs, and green projects aligning with FMO's sustainability goals.
UGRO Capital, which has raised over Rs 1,300 crore in debt from various development finance institutions and impact-focused investors, uses its proprietary GRO Score underwriting model to assess borrowers using banking cash flows verified by branch staff. The company's investments primarily target businesses in Tier III geographies and beyond, serving those with limited access to formal credit.
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