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News on Medial
ADV, NewQuest-backed U Gro snags capital from Dutch investor
VCCircle
·
1y ago
Medial
U Gro Capital, a non-banking lender backed by ADV Partners and TPG NewQuest, has secured new debt capital of around Rs 250 crore ($30 million) from Dutch investor FMO. The funds were raised through the issuance of non-convertible debentures with a tenor of four years. U Gro Capital aims to utilize the funds to further strengthen its lending operations.
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Samena Capital leads $158 mn funding round in U Gro Capital
VCCircle
·
1y ago
Medial
Non-banking lender U Gro Capital has raised $158.3 million in a funding round led by private equity firm Samena Capital. The funding was achieved through a combination of convertible debentures and warrants. Other investors included ADV Partners, TPG NewQuest, Aregence, and domestic family offices. The funds will be used to further the company's omnichannel distribution model and data analytics capabilities to minimize risk and expand its presence in the market. U Gro Capital aims to capture a 1% market share within the next three years.
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Former TPG NewQuest exec floats PE fund for growth stage bets
VCCircle
·
10m ago
Medial
A former executive of TPG NewQuest, a part of private equity firm TPG, has launched a new firm to invest in startups, growth stage companies, and public firms. TPG NewQuest has previously invested in companies like ShadowFax, Halonix Technologies, and U Gro Capital. The new firm aims to make strategic investments in promising ventures.
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U GRO Capital Raises $30 Million From ADB
OutlookIndia
·
1y ago
Medial
U GRO Capital, a datatech NBFC specializing in MSME lending, has raised Rs 2,500 million through Non-Convertible Debentures (NCDs) from the Asian Development Bank (ADB). This comes in addition to the Rs 2,500 million financing from FMO, the Dutch entrepreneurial development bank, received in December 2023. With an asset under management of Rs 83,638 million, U GRO Capital has provided credit to around 90,000 small businesses. The company aims to bridge the credit gap in the MSME sector through technology and credit expertise.
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Exclusive: Ugro Capital in merger talks with PE-backed NBFC
VCCircle
·
3m ago
Medial
Ugro Capital Ltd, founded by Shachindra Nath, is reportedly in merger discussions with a private-equity-backed non-bank financial company to expand its business operations. Established seven years ago with support from ADV Partners and NewQuest Capital, Ugro Capital is strategizing for significant inorganic growth. This potential merger marks an important move for the company, as it seeks to enhance its presence and capabilities in the financial services sector, according to sources familiar with the matter.
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Unboxing U GRO’s Playbook That Led To A 200% Net Profit Surge In FY24
Inc42
·
1y ago
Medial
Indian NBFC U GRO Capital, founded by Shachindra Nath, has gained significant success in defying typical growth norms in the country. The company positioned itself as a listed entity, allowing investors such as banks and PE/VCs to participate in the business through the public market. With a focus on data and technology, U GRO Capital has emerged as an institutional company, with its proprietary small business credit scoring model gaining interest from other lending institutions. NBFCs play a crucial role in credit intermediation and outreach, accounting for 30% of total bank credit in India.
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UGRO Capital approves issuance of NCDs up to Rs 135 Cr
YourStory
·
1y ago
Medial
U GRO Capital, a small business lending platform, has approved the issuance of up to 3,500 non-convertible debentures (NCDs) valued at Rs 1 lakh each. Additionally, the company has approved the issuance of up to 10,000 NCDs, valued at Rs 1 lakh each, aggregating to Rs 100 crore. The board has also approved the acquisition of financial services platform MyShubhLife for Rs 45 crore. U GRO Capital plans to use technology to provide innovative credit products to small-scale shopkeepers and distributors. The company also plans to raise Rs 1,332 crore in equity capital.
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MSME lender U Gro Capital’s Sachindra Nath pitches for new NBFC category
Livemint
·
1y ago
Medial
Sachindra Nath, the managing director of U Gro Capital, suggests the creation of a new category of non-banking financial companies (NBFCs) to serve micro, small, and medium enterprises (MSMEs). He believes that NBFC-MSME should be established, similar to NBFC-MFI and HFC. This move would address the recent increase in risk weight on consumer loans by the Reserve Bank of India, affecting NBFCs by raising their borrowing costs. U Gro Capital has partnered with Laghu Udyog Bharati to launch awareness programs and empower MSMEs with knowledge about government schemes and digital credit. They aim to capture a larger market share in MSME credit and expand their loan book.
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Klub Partners U GRO Capital To Disburse INR 150 Cr Loans To Foster Growth For Digital SMEs
Inc42
·
1y ago
Medial
Revenue-based financing startup Klub has partnered with U GRO Capital to disburse INR 150 Cr ($20.2 million) in credit to support digital small and medium enterprises (SMEs) in India. The allocated fund will provide scalable debt financing of up to INR 30 Cr ($4 million) in a single tranche through Klub's platform. The partnership aims to address the credit requirement gap that exists for SMEs in India. Klub offers flexible funding to digital businesses and SaaS startups and has already deployed over 1,600 investment rounds for more than 600 brands in India.
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ADV Partners clocks another multi-bagger exit from India portfolio
VCCircle
·
7m ago
Medial
Asia-focused private equity firm ADV Partners has achieved a successful exit from a manufacturing company in India, marking another lucrative move in its portfolio this year. The private equity firm has previously invested in Indian companies including Dr Agarwal’s Healthcare, Micro Plastics, and UGro Capital. This latest exit demonstrates ADV Partners' ability to generate impressive returns through its strategic investments in the Indian market.
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Fireside-backed petcare startup Supertails snags Series B cheque
VCCircle
·
1y ago
Medial
Supertails, a petcare startup backed by Fireside Ventures, has raised Rs 125 crore ($15 million) in Series B funding. The round was led by RPSG Capital Ventures and saw participation from existing investors, including Fireside Ventures, Saama Capital, DSG Consumer Partners, and Sauce VC. Supertails plans to use the funding to acquire new customers, invest in technology, and expand its healthcare services. The Bengaluru-based startup aims to achieve an annual recurring revenue of Rs 500 crore in the next two years.
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