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03/08/2022 05:44pm

Yubi partners with U GRO Capital for co-lending and supply chain financing to bridge MSME credit gap

image Yubi partners with U GRO Capital for co-lending and supply chain financing to bridge MSME credit gap

Chennai, Aug 3 (KNN) Yubi has entered into an agreement with U GRO Capital to provide MSMEs with financing of more than INR 2000 crore by March 2023.

Yubi on Wednesday announced that the partnership will see the integration of Yubi.Co.Lend and Yubi Flow with GRO–Xstream and GRO–Line platforms, respectively.

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As a result of this double partnership, U GRO Capital will be able to leverage Yubi’s full stack operating system to seamlessly discover, go live and collaborate with multiple partners on Yubi’s platform.

The primary aim of the Yubi -U GRO Capital partnership is to solve the financial challenges faced by MSMEs by building deep expertise in the sector coupled with a data-centric, technology-enabled approach.

Through Yubi Flow, U GRO Capital will be able to finance the credit pipeline to channel partners of anchor corporations. These are essentially MSMEs whose cash flows and working capital will be positively impacted.  

Through this alliance, U GRO Capital will gain access to Yubi Co.Lend’s vast network of Banks, Financial Institutions and Fintechs via a single API (Application Programming Interface) integration to extend and accelerate credit to the underserved sectors in the country.

Speaking about the partnership, Gaurav Kumar, Founder and CEO of Yubi, said: “We, at Yubi, are working towards accelerating financial inclusion in the country through a technology-driven credit infrastructure that powers discovery, execution and fulfilment. We are elated to partner with U GRO Capital with a shared vision to bridge the MSME credit gap in India by providing credit access to the unserved and underserved sectors in the country.”

“With our data-tech approach, we were able to head-start co-lending partnerships with top national banks. What started as an experiment, co-lending, has gathered momentum and acceptance across the industry. The scale of big Banks combined with the agility and reach of nimble partnerships is going to be the bedrock of the transition of the lending industry. With Yubi’s tech-enabled credit infrastructure, we’ll be able to fast-track our initiatives to reach our mission of ‘solving the unsolved’ for the MSMEs,” Shachindra Nath, Vice Chairman and Managing Director, U GRO Capital, said.  (KNN Bureau)

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