U GRO Capital, a listed, MSME lending fintech platform, surpassed Assets Under Management (AUM) of Rs 3,656 crore as of June 30, 2022 (+166% compared to June 30, 2021) and is on track to cross the mark of Rs 7,000 crore AUM by March 2023, the fintech said in release.
It said it has been able to effectively demonstrate co-lending capability after having kicked off this stream by experimenting with top public sector banks. The current off-book AUM stands at Rs 750 crore (21 percent as on June 30, 2022). The company aims to grow its loan book under co-lending partnerships by 3 times to over Rs 2,000 crore by March 2023.
Shachindra Nath, Vice Chairman and Managing Director of U GRO Capital, stated, “U GRO Capital is at the forefront of using data analytics and technology to serve the underserved MSME segment. We have been pioneers of ‘Lending as a service’ by harnessing the power of Co-lending/ Co-origination models and steering the company towards transitioning into a lending platform through off-balance sheet AUM approach. Operational efficiencies have started to kick in with improving profitability with each passing quarter. The company is on track to achieve AUM of INR 20,000 crore by 2025, as we achieved our highest ever disbursement in Q1 FY23.”