Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

ZipLoan and U GRO Capital enter co-lending partnership, INR 50 crore committed towards the program

Posted On: 2021-10-13 21:21:18 (Time Zone: IST)


ZipLoan, an RBI registered FinTech leader in India, announced that it has tied up with U GRO Capital limited, a listed, MSME lending fintech platform. U GRO Capital has onboarded us on their Co - Lending marketplace GRO X - Stream enabling a co-lending partnership and have committed Rs. INR 50 crore towards the program. This will strengthen ZipLoan's mission to be able to meet the working capital requirements of MSME and deepen their presence in this sector. ZipLoan will be sourcing, underwriting, disbursing managing the portfolio of MSME loans. The partnership is also in sync with ZipLoan's long-term growth strategy of strengthening its foothold in India's growing FinTech markets by bolstering its leadership ranks. U GRO Capital, has consistently been building an ecosystem of FinTech players who can benefit from its API driven technology and data driven underwriting.

ZipLoan was founded in 2016 with a mission to ensure easy availability of working capital loans to small business owners in India. Its technology-enabled platform is well equipped to offer credit in a fast and hassle-free manner. Through ZipLoan's proprietary risk assessment also called 'ZipScore', the FinTech platform is able to provide business loans of up to INR 7.5 lakhs in the fastest turnaround times possible, while maintaining favorable unit economics. Till date, ZipLoan has disbursed INR 450 crores of business loans to over 11,000 customers, and the company's partnership with UGRO is set to further elevate those numbers.

Speaking on the development, Kshitij Puri, Co-Founder and CEO, Ziploan, said, "We are excited to partner with UGRO to help provide the much-needed credit to the MSME eco-system. These businesses are the backbone of the Indian economy and need capital as they bounce back post Covid. We believe next 3-4 years will see a rapid growth in the MSME segment and we intend using a digital first approach to address their needs. It is a pleasure to partner with UGRO in what we know will be a strong and long-standing association. As we advance in our journey, we look forward to this partnership and hope to address the credit pain points of our customers in the most effective manner."

Speaking on the same, Shachindra Nath, Executive Chairman & Managing Director, U GRO Capital Limited, said, "We are pleased to on board Zip Loan on GRO - Xstream platform of U GRO. GRO - Xstream means GRO Accelerator which is emerging a preeminent platform to provide capital to serve the underserved MSME market. We believe that over period of time large lending institution can also benefit with our technology integration with these platforms and provide more capital to each of our partner on the platform."

Shares of Ugro Capital Ltd was last trading in BSE at Rs. 130.00 as compared to the previous close of Rs. 128.95. The total number of shares traded during the day was 9044 in over 170 trades.

The stock hit an intraday high of Rs. 133.05 and intraday low of 129.00. The net turnover during the day was Rs. 1176345.00.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Apollo Tyres Ltd brings in premium tyre brand Vredestein to India

Asian Hotels North Limited appoints Mr. Ashish Dhanuka as additional director

Athena Global Technologies Ltd posts consolidated Q2FY22 loss of Rs. 1.18 crore

Automotive Stampings and Assemblies Ltd Q2FY22 net profit at Rs. 40.21 lakhs

Sahyadri Industries Ltd posts Rs. 11.84 crores PAT in Q2FY22

MCX reports consolidated PAT of Rs. 32.66 crore in Q2 FY2021-22

Rudra Global Infra Products Ltd consolidated Q2FY22 PAT higher at Rs. 2.10 crore

Gujarat Containers Ltd posts Rs. 1.59 crore PAT in Q2FY22

HGS drives employment across Northern Ireland

Minda Industries Ltd approves additional investment in SPV

Godawari Power And Ispat Ltd increses stake in Hira Ferro Alloys Ltd to 52.79%

Suraj Industries Ltd Q2FY22 PAT at Rs. 81.88 lakhs

ICICI Bank Q2FY22 consolidated PAT climbs to Rs. 6091.84 crore

Tatva Chintan Pharma Chem Ltd Q2FY22 consolidated PAT surges to Rs. 32.41 crore

Sportking India Ltd updates on expansion project

Jasch Industries Ltd Q2FY22 PAT rises to Rs. 4.07 crore

Kkalpana Industries India Ltd Q2FY22 consolidated PAT higher at Rs. 13.45 crore

Gothi Plascon India Ltd Q2FY22 PAT at Rs. 58.52 lakhs

Sportking India Ltd reports surge in Q2FY22 PAT to Rs. 110.16 crore

Seshasayee Paper and Boards Ltd posts Rs. 27.49 crore consolidated PAT in Q2FY22

Vimta Labs Ltd reports consolidated Q2FY22 PAT of Rs. 9.74 crore

Orient Electric Ltd posts Rs. 34.77 crores PAT in Q2FY22

Chalet Hotels Ltd enters into settlement with HAL for Koramangala project

S E Power Ltd posts consolidated loss of Rs. 40.03 lakhs in Q2FY22

IRB InvIT Fund to distribute Rs. 2.20 per unit for Q2FY22

PSP Projects Ltd receives award at the 19th Construction World Annual Awards, 2021

Gayatri Tissue and Papers Ltd Q2FY22 PAT at Rs. 0.32 lakhs

ZF Steering Gear India Ltd posts net profit of Rs. 5.70 crore in Q2FY22

Dodla Dairy reports Q2FY22 earnings

Krebs Biochemicals & Industries Ltd board approves issue of preference shares

Greaves Electric Mobility acquired 100% stake in E-Rickshaw Company Bestway

TVS Motor Company wins India Green Energy Award

Zuari Agro Chemicals Limited announces shutdown of NPK plants

Metropolis Healthcare completes acquisition of chain of labs in South India called 'Hitech Diagnostic Centre'

Ravi Kumar Distilleries Ltd resumes operations at factory

JK Cement Ltd and PRESPL sign a Strategic MoU to Curate a 'Decarbonisation Path', envisioned for Decade and Beyond

Bank of India opens first ever branch in Leh

Kotak Partners Pine Labs as it scales up its Merchant Acquiring Business

IndiGo transported 67.9% of the vaccines as India touches 100-crore dose milestone

Cybertech Systems and Software Ltd Q2FY22 consolidated PAT at Rs. 8.47 crore

Reliance Industries Ltd Q2FY22 consolidated PAT rises to Rs. 13680 crore

Dodla Dairy Ltd Q2FY22 consolidated net profit drops to Rs. 29.39 crore

Zenotech Laboratories Ltd posts Rs. 94.64 lakhs profit in Q2FY22

Inventure Growth and Securities Ltd Q2FY22 consolidated PAT at Rs. 3.70 crore

The Federal Bank Ltd reports consolidated PAT of Rs. 487.99 crore in Q2FY22

Crompton Greaves Consumer Electricals Ltd Q2FY22 consolidated PAT up at Rs. 158.81 crore

Tata Consumer Products Ltd consolidated Q2FY22 PAT at Rs. 268.04 crores

Pioneer Distilleries Ltd Q2FY22 loss at Rs. 21.79 crore

Tata Elxsi Ltd Q2FY22 net profit rises to Rs. 125.33 crore

Kirloskar Ferrous Industries Ltd posts Rs. 119.91 crores PAT in Q2FY22


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020