Mumbai (Maharashtra) [India], May 6: UGRO Capital Limited (NSE: UGROCAP) (BSE: 511742), a leading DataTech NBFC focused on MSME lending, today announced a significant development that underscores its commitment to growth, innovation, and delivering value to stakeholders. UGRO Capital’s Board of Directors has approved the acquisition of ‘MyShubhLife’ (MSL), a prominent Embedded Finance Fintech platform headquartered in Bangalore, for an enterprise value of Rs 45 Cr through a combination of 64:36 Equity Cash transaction, thereby making it a wholly owned subsidiary.
MSL stands as a market leader in embedded finance solutions, specializing in offerings tailored for small shopkeepers and distributors, with unique products featuring daily and weekly installment options along with an overdraft facility. The platform has already sourced over 15 million merchants through anchor partners involving consumer tech and valued at Rs 240 Crores, making it a significant player in the market.
With MSL now under its umbrella, UGRO Capital is poised to onboard 200,000 new retailers within the next three years, unlocking substantial growth opportunities. The company anticipates an incremental Assets Under Management (AUM) of Rs 1500 Cr and achieving a Profit After Tax (PAT) of Rs 100 Cr over the same period with MSL as its subsidiary.
Reflecting on this acquisition, Shachindra Nath, Founder and Managing Director of UGRO Capital, emphasized that this move aligns with the company’s strategy of enhancing direct digital lending for small retailers, while Monish Anand, Founder & CEO of MyShubhLife, highlighted the shared goal of leveraging technology to offer tailored credit solutions to small-scale businesses nationwide.
UGRO Capital’s acquisition of MSL reaffirms its commitment to fostering inclusive economic growth and empowering MSMEs across India, solidifying its position as a key player in the financial services sector.
