(MENAFN- KNN India) New Delhi, Apr 18 (KNN) In a strategic move to address the persistent credit challenges faced by India's Micro, Small, and Medium Enterprises (MSMEs), revenue-based financing platform Klub has partnered with MSME lending platform U GRO Capital.
This collaboration aims to disburse funds worth a staggering Rs 150 crore, bridging the credit gap and providing much-needed financing solutions for MSMEs across the nation.
The partnership seeks to leverage the strengths of both companies, offering quick and adaptable debt financing solutions tailored to the needs of digital businesses globally.
By combining Klub's expertise in revenue-based financing and U GRO Capital's proficiency in MSME lending, the alliance promises to deliver a seamless and efficient financing experience for entrepreneurs.
"Addressing the credit requirement gap for MSMEs is a critical opportunity, given their pivotal role in India's economy and job market," said Sudharsan Venkatkrishnan, Senior Vice President at Klub.
"Partnering with a digitally savvy lender like U GRO Capital not only amplifies our reach but also aligns with the value we deliver to SMEs through our product selection and superior customer experience,” he noted.
The collaboration further intends to extend credit support to digital SMEs at various growth stages. The allocated fund will facilitate lending across the country, providing adjustable debt financing of up to Rs 30 crores in a single transaction through Klub's platform.
U GRO Capital, with an impressive AUM (Assets Under Management) of Rs 8,364 crore as of December 2023, brings its expertise in digital lending and underwriting models to the partnership.
The company offers a range of products, fr0m Rs 1 lakh to Rs 5 crores, catering to diverse MSME needs, including business growth, day-to-day operations, equipment upgrades, and sustainable projects such as rooftop solar installation and EV financing.
(KNN Bureau)
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