Mumbai, May 25 (KNN) MSME Fintech lender U GRO Capital Limited has announced that its disbursements for Q4FY22 stood at Rs 963 crore recording a growth of 114 per cent over Q4FY21.

On Wednesday, the Board of Directors of U GRO Capital Limited approved the financial results for the quarter and financial year which ended on March 31, 2022.

The Company’s AUM stood at Rs 2,969 crore compared to Rs 1,317 crore as of March 31, 2021, a 125 per cent increase on a YoY basis.

While the gross disbursements for FY22 stood at Rs 3,138 crore, a 173 per cent YoY growth compared to Rs 1,147 crore in FY21.

Commenting on the results, Shachindra Nath, VC and MD of U GRO Capital said, “The company has built formidable distribution strength by scaling up its asset channels in FY22 to support future growth plans. We have been pioneers of the co-lending model in the industry and have set course for transitioning our business model to lending as a service.”

“Data analytics and technology is at the forefront of our business model. We have been able to implement one of the best underwriting models and build a robust tech architecture to support the end-to-end digital customer journey through API. Going forward, our focus shall remain on growing our book profitably, by increasing the proportion of our off-book AUM,” he added.  (KNN Bureau)