UGRO CAPITAL CROSSES INR 10,000 CRORE AUM MILESTONE, LAUNCHES 10K CELEBRATION RUN AND UNVEILS THE UGRO ANTHEM

AI-Powered Motivational Track Celebrating the Journey and Inspiring Employees to Celebrate the Milestone & Reach New Heights

MUMBAI, India, Oct. 3, 2024 /PRNewswire/ -- UGRO Capital Limited, a leading DataTech NBFC focused on MSME lending, proudly announces that it has crossed the significant milestone of INR 10,000 crore in Assets Under Management (AUM), a feat that underscores its commitment to empowering MSMEs and highlights the collective efforts of its 3,500 employees. From only about INR 1,700 Cr AUM after the COVID-19 pandemic in 2022, this feat has been achieved in record time. Achieving this milestone, UGRO Capital continues its journey toward becoming India's largest small business financing institution, supported by its partners, stakeholders, and employees.

Founded with the mission of empowering MSMEs through efficient credit deployment, UGRO Capital has already provided financial support to over 1 Lakh MSMEs across India. To commemorate this achievement, UGRO Capital has launched the UGRO 10K Celebration Run, a virtual marathon campaign aimed at promoting the health and well-being of its employees. The Company recognizes the importance of balancing professional success with personal health, as it gears up for the next phase of its journey. The Company has also unveiled the UGRO Anthem, a motivational track created by the employees for the employees. This anthem, which was crafted entirely in-house using the power of AI, reflects the company's spirit, culture, and its shared vision for the future. The anthem serves as a rallying cry for UGRO's employees, pushing them to aim higher and reminding them that together, they can overcome any challenge.

The UGRO Anthem is a unique blend of creativity and technology, symbolizing the company's forward-thinking approach. This powerful track is more than just a song; it's a celebration of the journey so far and a motivational call to action for the road ahead. Employees from various departments contributed their ideas and lyrics, showcasing their collective talent and uniting under a shared purpose. The anthem has already gained momentum internally, and it will soon be shared publicly to inspire a wider audience.

Click here for UGRO Anthem Video: https://shorturl.at/OFgfJ

The Grand 10 KM Virtual Marathon, taking place on 27th October 2024, will see UGRO's employees across the country unite on a health app to run together in celebration. In the lead-up to the marathon, UGRO has organized a series of 3 KM, 4 KM, and 5 KM virtual runs, fostering team spirit through healthy competition, tips, and encouragement. With this initiative, UGRO aims to collectively cover over 10,000 kilometers, symbolizing its commitment to continued growth and well-being. The campaign will continue through Diwali, with participants rewarded with running and health gear and goodies.

Commenting on this significant achievement, Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, said, "We conceived the idea of UGRO Capital as India's first listed startup in 2018. Over the last 6 years, we lost 3 Years in the IL&FS led credit crisis and the COVID-19 pandemic. However, our teams kept faith in UGRO's vision to solve the problem of credit for small businesses of India. Crossing the INR 10,000 crore AUM mark in about 3 Years is a truly momentous achievement for UGRO Capital. This accomplishment reflects the relentless efforts of our employees and the unwavering support of our partners, MSMEs, and more than 60+ lenders, co-lending partners and global development financial institutions. We are blessed that we have support of patient investors, public shareholders and our Board. As we continue on our path to becoming India's largest small business financing institution, we also want to focus on the well-being of our team. The UGRO 10K Celebration Run is our way of reinforcing the importance of a healthy work-life balance and encouraging our employees to prioritize their health as we set our sights on the next milestone."

UGRO Capital's 10K Celebration Run and the UGRO Anthem represent the Company's dedication to growth, unity, and health. These initiatives symbolize UGRO's focus on creating a thriving workplace where employees feel motivated, valued, and inspired as they contribute to India's MSME sector and continue their journey toward becoming the nation's largest small business financing institution.

About UGRO Capital Ltd (NSE: UGROCAP) (BSE: 511742)

UGRO Capital Limited is a DataTech Lending platform, listed on NSE and BSE, pursuing its mission of "Solving the Unsolved" for the small business credit gap in India, on the back of its formidable distribution reach and its Data-tech approach.

The Company's prowess in Data Analytics and strong Technology architecture allows for customized sourcing platforms for each sourcing channel. GRO Plus module which has uberized intermediated sourcing, GRO Chain, a supply chain financing platform with automated end-to-end approval and flow of invoices, GRO Xstream platform for co-lending, an upstream and downstream integration with fintechs and liability providers, and GRO X application to deliver embedded financing option to MSMEs. 

The credit scoring model GRO Score (3.0) a statistical framework using AI / ML driven statistical model to risk rank customers is revolutionizing the MSME credit by providing on-tap financing like consumer financing in India.

UGRO has executed Co-lending model in India which is prevalent in the West through Co-Lending relationships with 10+ Large Public Sector Banks and large NBFCs and built a sizeable off-balance sheet asset of more than 46% of its AUM through the GRO Xstream platform.

The Company is backed by marquee institutional investors (raised INR 900+ Cr of equity capital in 2018, INR 340 Cr in 2023 and INR 1265 Cr in 2024) and aims to capture 1% market share over the next three years. For more information, please visit: http://www.ugrocapital.com/.

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