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U GRO Capital appoints Amit Mande as Chief Revenue Officer

Posted On: 2021-09-14 11:24:11 (Time Zone: UTC)


U GRO Capital, a 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 newer partnership 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 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 1% 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 next few years. We have been resetting the management team which is nimble and agile, understands conventional underwriting but simultaneously has the ability to adopt to these changes which are happening in 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 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 digitisation, strong analytics, robust risk platform and a large, diversified distribution which have been put in place in 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."

Shares of UGRO CAPITAL LIMITED was last trading in BSE at Rs. 117.9 as compared to the previous close of Rs. 117.95. The total number of shares traded during the day was 3919 in over 104 trades.

The stock hit an intraday high of Rs. 119.9 and intraday low of 116.65. The net turnover during the day was Rs. 459157.


Source: Equity Bulls

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