Lender UGRO to buy Profectus in ₹1.4k cr deal

Lender UGRO to buy Profectus in ₹1.4k cr deal
MUMBAI: UGRO Capital, a tech-driven non-bank lender focused on MSMEs, will acquire Profectus Capital in a Rs 1,400 crore all-cash transaction. The acquisition, funded through UGRO's recent equity raise, is subject to regulatory approvals and will result in Profectus becoming a wholly owned subsidiary.
UGRO Capital was founded in 2017 by Shachindra Nath, a financial services professional with over 26 years of experience. The company uses data analytics and technology to serve small businesses and operates through more than 240 branches. It has built co-lending partnerships with 17 banks and NBFCs, positioning itself as a key player in MSME financing. Profectus Capital, also established in 2017 by K V Srinivasan, specialises in secured lending to small businesses, particularly in the education sector.
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