Revenue-based financing platform Klub has partnered with U GRO Capital, an MSME lending platform, to disburse funds worth Rs 150 crore. This collaboration aims to address the credit gap for micro, small, and medium enterprises (MSMEs) in India.
Objective of Collaboration:
The primary objective of this collaboration is to provide quick and adaptable debt financing solutions for digital businesses globally. Klub and U GRO Capital seek to leverage their expertise to cater to the evolving needs of MSMEs in India.
Importance of Bridging Credit Gap:
MSMEs play a pivotal role in India’s economy and job market. However, many face challenges in accessing timely credit, hindering their growth potential. By bridging this credit gap, Klub and U GRO Capital aim to empower MSMEs and contribute to economic growth.
Statement from Klub:
Sudharsan Venkatkrishnan, Senior Vice President at Klub, emphasized the significance of addressing the credit requirement gap for MSMEs. He highlighted the partnership with U GRO Capital as a strategic move to amplify reach and deliver value through superior customer experience.
Support for Digital SMEs:
In addition to addressing the needs of traditional MSMEs, this partnership aims to extend credit to digital small and medium-sized enterprises (SMEs). These digital businesses, at various stages of growth, will benefit from the allocated fund and tailored debt financing solutions.
Allocation of Funds:
The Rs 150 crore fund will facilitate lending across the country, providing adjustable debt financing of up to Rs 30 crores in one go through Klub’s platform. This allocation underscores the commitment to supporting MSMEs and fostering their growth.
Conclusion:
The collaboration between Klub and U GRO Capital marks a significant step towards bridging the credit gap for MSMEs in India. By combining their strengths, these platforms aim to empower businesses, drive economic development, and foster a thriving ecosystem for entrepreneurship.
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