Ugro Capital has raised ₹250 crore through Non-Convertible Debentures (NCDs) from FMO, the Dutch entrepreneurial development bank.
The company has been focused on bridging the credit gap in the country’s MSME sector.
Shachindra Nath, Founder and Managing Director of Ugro Capital, commented on the collaboration, saying, “This transaction is proof of Ugro Capital’s ability to forge partnerships with and attract funding from reputed global DFIs. We share a common vision of financial inclusion with impact funding organizations and are excited to collaborate with FMO to meet the diverse financial needs of India’s underserved MSMEs.”
Aleksandra Gazy, Senior Investment Officer at FMO said, “We are pleased to partner with Ugro Capital in their mission to empower MSMEs in India. The association will help strengthen our commitment towards greater financial inclusion in India.”
Ugro Capital stock was down by 0.98 per cent on the NSE, trading at ₹268.60, as of 11:25 am on Tuesday.