PRESS RELEASE
14th September 2021
Mumbai, India
Media Contact:
Niharika Saluja
+91 80973 41147
niharika.saluja@adfactorspr.com
U GRO Capital appoints Amit Mande as Chief Revenue Officer U GRO Capital, an NSE & BSE listed, small business lending fintech platform, today, announced the appointment of Mr. Amit Mande as Chief Revenue Officer. In this role, he will handle the asset side of U GRO Capital and primarily focus on deepening the existing distribution channels, creating a newer partnerships and continue to scale UGRO’s business to achieve its mission of serving 1 Million MSME customers and take 1% market share of outstanding credit to MSMEs in India by 2025.
Amit brings 20 plus years of cross-functional banking experience with significant expertise in secured as well as unsecured retail assets. Prior to joining U GRO, he was CEO of M Capital, which is the lending arm of Mswipe where he launched the lending business which has been operational since January 2021.
Previously, he has managed a variety of retail asset products throughout his career ranging from Personal Loans, Business Loans, LAP, Mortgages, Consumer Durables, CV/CE Finance, and Two-Wheeler Finance, Auto, and MSME.
He has been instrumental in setting up the SME lending business of Rattan India Finance, he was Business Head for Unsecured SME loans for Capital First and has worked with Barclays Bank, ABN AMRO Bank, and Standard Chartered Bank. He is a management graduate from Jamnalal Bajaj Institute of Management Studies and an engineering graduate from V.J.T.I, Mumbai.
Announcing the appointment, Mr. Shachindra Nath, Executive Chairman and Managing Director of U GRO Capital stated, “We are glad to welcome Amit in our team, as the Chief Revenue Officer. With this addition, we have completed the reset of our management team and we now have strong layers of business leaders which would help me to achieve the vision of capturing a 1% of market share and serving 1 million small business customers in India. India’s SME financing market is at its inflection point wherein the Data Tripod of GST, Banking, and Bureau would bring it to the levels of consumer financing in the next few years. We have been resetting the management team which is nimble and agile understand conventional underwriting but simultaneously has the ability to adapt to these changes which are happening in the lending industry – we would be one of the largest FinTech driven by its own balance sheet and collaboration with large banks and financial institution.”
On the appointment, Mr. Amit Mande said, “I am delighted to join U GRO The capital which is closely working on a mission of solving the unsolved credit needs of small businesses through its unique initiatives. The building blocks of digitization, strong analytics, robust risk platform, and a large, diversified distribution which has been put in place in a short span of two years is a matter of inspiration for every other FinTech and I am privileged to be given the opportunity to scale this to next level. My continuous engagement with Mr. Nath and the Board of U GRO gives me confidence that U GRO is the long-term home for achieving my professional goals.”
About U GRO Capital Ltd.:
U GRO Capital limited is a listed (NSE, BSE), MSME lending fintech platform. U GRO
Capital’s mission is ‘Solve the Unsolved’ – Small Business Credit Need with its omnichannel distribution model combining the physical and digital journey of the customer. The Company envisions to spearhead India’s transition of the MSME lending market to the new age of on-tap financing. It uses the emerging Data Tripod of GST, Banking and Bureau coupled with its sectoral analysis to solve the problem of credit for small businesses.
U GRO aspires to serve one million small businesses with an asset book of 1% of outstanding MSME credit of India as its first milestone.
Technology underpins every aspect of U GRO’s lending process, from API integrations, sectoral and sub-sectoral statistical scorecards, state-of-the-art AI/ML credit underwriting engine combining bank, bureau, and GST statement analyzers, automated policy approvals, and machine learning OCR technology. Company’s GRO The extreme platform empowers fintech and other institutional platforms to deepen their distribution reach through a plug-and-play API-driven seamless integration with U GRO. The company has developed full tech stack to fully automate the complete life cycle of a loan right from origination to the collection during the entire customer journey.
The Company has raised ~₹ 2500 crore of equity & debt capital from marquee Private
Equity Investors, Family Offices, Banks, and other Financial Institutions over last 3 years.
Registered Office Address: Equinox Business Park, Tower 3, 4th Floor, LBS Road, Kurla (West), Mumbai – 400070
CIN: L67120MH1993PLC070739
Telephone: +91 22 48918686 I E-mail: yougrow@ugrocapital.com I Website: www.ugrocapital.com