Urgo Capital Opens a New Branch Office in Indore to Empower MSMEs

Urgo Capital Opens a New Branch Office in Indore to Empower MSMEs

Indore: UGRO Capital, a leading DataTech NBFC focused on MSME lending, in line with its business expansion plan, has today inaugurated its new branch office in Indore located at office 212 & 214, ground floor, Dhan Trident, Vijay Nagar, Indore, Madhya Pradesh, 452010. UGRO Capital now has 15 branches in Madhya Pradesh and plans to intensify its focus on small businesses loans by expanding its network to 35 branch offices in the state in FY25.
 
The new branch was inaugurated by Smt Indu Shrivastava, BJP Mahila Morcha Mandal Adhyaksh – Indore and Shri Vikas Arora, MD, Gopal Krishna Petroleum and Gopal Krishna Cineplex accompanied by Mr. J Sathiyan, Chief Business Officer- Micro Enterprises, UGRO Capital accompanied by Mr. Vinay Agarwal, Business Head – Micro, UGRO Capital. This expansion will enable UGRO Capital to penetrate deeper into the state, offering growth opportunities for small businesses by providing loans up to INR 25 Lakhs.

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The MSME sector is a crucial component of India’s economy, contributing approximately 30% of the nation’s GDP, accounting for 50% of its exports, and providing employment to over 11 crore people. Madhya Pradesh boasts over 23 lakh MSMEs registered on Udyam and Udyam Assist Platform, significantly contributing to the state's economic growth and generating employment for over 71 lakh individuals. Indore, a prominent business hub in Madhya Pradesh, is home to many MSMEs. The new branch will allow a greater number of MSME customers to access UGRO’s comprehensive credit solutions, including business loans, secured loans against property, equipment finance, and rooftop solar loans.

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Commenting on the recent branch expansion, Mr. Amit Mande, Chief Revenue Officer, UGRO Capital said, “We are thrilled to expand our footprint in Madhya Pradesh with the new branch in Indore. The new branch is a testament to our commitment to empowering smaller businesses and driving economic growth in the region. Our goal is to provide financial support to MSMEs across the country and provide them with the financial assistance they need to grow their businesses.”
 
Since its inception six years ago, UGRO Capital has been dedicated to addressing the critical credit gap for MSMEs in India. Leveraging data and technology, the company aims to solve every credit need of every MSME, taking credit to the last mile. Madhya Pradesh holds strategic importance for UGRO Capital, and the new branch in Indore represents a significant step towards becoming the largest small-business financing institution in the country.

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