GRO X - ‘CREDIT LINE ON UPI’ FOR SMALL BUSINESSES

-by Shachindra Nath, Vice Chairman & Managing Director, U GRO Capital

U GRO Capital, a DataTech NBFC and pioneer of Lending as a Service (LaaS) in India, has recently launched GRO X App, a credit line on UPI for MSMEs. It will enable small business owners, retailers, traders, professionals, and small manufacturers across India to obtain collateral-free instant credit for immediate working capital requirements and to manage their financial liquidity.

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Over 63 million MSMEs in India today employ more than 110 million people and account for nearly 30 percent of the country's GDP. However, a lack of timely credit prevents them from realising their potential. The GRO X App from U GRO Capital aims to address this small business credit need by utilising data analytics and technology to provide flexible and affordable credit to MSMEs.

The GRO X proposition leverages our data analytics prowess and cashflow backed risk assessment methodology to deliver instant short-term credit limit to the MSMEs. The MSMEs can then dispense this credit on UPI, receive payments and pay interest only for the time the funds are utilised, thereby making it affordable and transparent.

For example, a kirana store has to stock up groceries for festive season, the merchant can get GRO X limit instantly, use his GRO X limit to pay distributors for the stock, receive payments from customers to manage his utilisation and have a transparent visibility of his credit limit, debit and credit transactions, and interest payments, all on his smart phone. It truly gives all small businesses Non-Stop Business karne ki Azaadi.”

U GRO plans to acquire and service over 1 million MSME customers in the next 3 years on the GRO X platform which is a completely digital and seamless journey for accessing and utilizing short-term credit extended to small businesses.

U GRO Capital is revolutionizing MSME lending and assisting the credit-underserved MSME segment by bridging the massive funding-growth gap. GRO X App is a natural progression for the company in its mission to solve the working capital problem of the last mile MSME. U GRO Capital aims to achieve AUM of INR 20,000 crore and capture 1% market share in the MSME lending space by 2025.

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