The company plans to acquire and service over 1 million MSME customers in the next 3 years on the GRO X platform which is a completely digital and seamless journey for accessing and utilizing short-term credit extended to small businesses.

Ugro Capital aims to achieve AUM of Rs 20,000 crore and capture 1% market share in the MSME lending space by 2025.

Amit Mande, chief revenue officer, U GRO Capital said, "The GRO X proposition leverages our data analytics prowess and cashflow backed risk assessment methodology to deliver instant short-term credit limit to the MSMEs. The MSMEs can then dispense this credit on UPI, receive payments and pay interest only for the time the funds are utilised, thereby making it affordable and transparent. For example, a kirana store has to stock up groceries for festive season, the merchant can get GRO X limit instantly, use his GRO X limit to pay distributors for the stock, receive payments from customers to manage his utilisation and have a transparent visibility of his credit limit, debit and credit transactions, and interest payments, all on his smart phone. It truly gives all small businesses Non-Stop Business karne ki Azaadi."

Ugro Capital is a data tech lending platform. Ugro has pioneered the "Lending as a Service" (LaaS) model in India and has operationalized co-lending relationship with 10+ large public sector banks and large NBFCs and built a sizeable LaaS book of more than 15% of its AUM through the GRO Xstream platform.

The company net profit soared 287% to Rs 13.12 crore on 122.6% jump in total income to Rs 189.59 crore in Q3 FY23 over Q3 FY22.