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U GRO Capital acquires ‘MyShubhLife to drive embedded financing for small merchants

By Gloria Mathias

May 07, 2024

  • Equity Capital
  • Financial Solutions
  • fintech funding
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U GRO Capital, Mastercard, Financial Solutions, SMEs, SMBs, Fintech news, Underwriting solutions, Loans, Lending, Women Entrepreneurs, India News, India Fintech News, MSME solutions, Equity Capital, Fintech funding, MyShubhLife, Fintech News, Fintech IndiaU GRO Capital, a DataTech NBFC focused on MSME lending, has announced the approval of the acquisition of ‘MyShubhLife’ (MSL), an embedded finance FinTech platform with an enterprise value of INR 45 crore, through a combination of 64:36 equity cash transactions, making it a wholly owned subsidiary.

MSL is an embedded finance solution specializing in offerings tailored for small shopkeepers and distributors. Distinguished by its products featuring daily and weekly installment options along with an overdraft facility, MSL demonstrates robust underwriting and distribution capabilities, positioning it uniquely to deliver customized credit solutions to last-mile retailers and distributors.

With MSL seamlessly integrated into its ecosystem, UGRO Capital envisions onboarding 200,000 new retailers within the next three years, thereby unlocking substantial growth opportunities.

Shachindra Nath, Founder and Managing Director of UGRO Capital, said, “The acquisition of MyShubhLife marks a significant milestone in our journey. Scaling up embedded finance requires a deep understanding & penetration of the payment player ecosystem and a cutting-edge data & technology stack. MSL has a proven track record on both counts, and it fits well with UGRO’s strategy. MSL’s live embedded relationships with leading payment ecosystems and a very contemporary and functional technology architecture will add granularity & yields to our portfolio. This acquisition reinforces our commitment to direct digital lending for small retailers.”

Monish Anand, Founder & CEO, MyShubhLife, said, “The realm of lending is primarily a matter of scale, and in U GRO we have found a lender that not only has access to an extensive balance sheet but also has DataTech as its core DNA. Our primary objective is to employ technology as a catalyst for offering contextual and innovative credit products to small-scale shopkeepers and distributors across the nation. We at MSL are delighted to embark on this new journey together with UGRO, and we aim to work towards achieving our mutual goal.”

With this strategic acquisition, UGRO Capital remains dedicated to driving inclusive economic growth and empowering MSMEs across India.

 

 

 

 

 

 

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