SUMMARY
U GRO Capital raised the funding via INR-denominated NCDs, which were fully subscribed by FMO
U GRO Capital is a lendingtech platform focussed on MSMEs and is listed on the NSE and the BSE
The debt funding comes months after U GRO Capital raised INR 340 Cr ($41.3 Mn) from Denmark government’s development financial institution and long-term shareholders
U GRO Capital, a non-banking financial company with a focus on lending to MSMEs, has raised INR 250 Cr (about $30Mn) via non-convertible debentures from FMO, the Dutch entrepreneurial development bank.
In a statement, the company said that its INR-denominated NCDs issuance was fully subscribed by FMO.
Founded in 2018 by Shachindra Nath, U GRO Capital is listed on the NSE and the BSE. It claims to have provided credit to over 80,000 small businesses over the last five years.
In a statement, the NBFC said that approximately 20% of its total borrowings are sourced from development financial…