HomeNews & UpdatesZipLoan & U GRO Capital Enter Co-Lending Partnership

ZipLoan & U GRO Capital Enter Co-Lending Partnership

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MSME or in simple terms Micro, Small, and Medium Enterprises have been able to gain investors even during these hard times where most of the businesses were and still are affected by COVID-19 lockdown significantly. There has been a recent development which states that ZipLoan and U GRO Capital will be entering into a co-lending partnership in order to help MSMEs gain access to working capital.

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U GRO Capital Limited is an existing listed MSME lending fintech platform that has been using the emerging Data Tripod of GST, Banking, and Bureau along with its sectoral analysis in order to solve any issues surrounding credit for small businesses. On the other hand, ZipLoan was founded in 2016 with a similar ideology that includes providing working capital loans to small business owners in India. ZipLoan has been able to disburse 450 crores of business loans to approximately 11,000 customers and with this new partnership with U GRO, there are high hopes for the future.

“We believe next 3-4 years will see rapid growth in the MSME segment and we intend using a digital-first approach to address their needs.  It is a pleasure to partner with UGRO in what we know will be a strong and long-standing association. As we advance in our journey, we look forward to this partnership and hope to address the credit pain points of our customers in the most effective manner.” said Kshitij Puri, Co-Founder & CEO of Ziploan.

Currently, Ziploan is operational in 5 cities across India that includes offices in Mumbai, Jaipur, Lucknow and Indore. In this partnership, U GRO has committed Rs. 50 crore for this program. Apart from this, U GRO has been able to raise ~ 2500 crore rupees in equity and debt capital over the last 3 years.

Executive Chairman & Managing Director of U GRO Ltd seems to be pleased with this partnership and strongly believes that over a period of time large lending institutions can also benefit from their technology integration with these platforms and provide more capital to each of their partners on the platform.

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