SNG & Partners advised Canara Bank (acting through its Gift City branch) in extending $30 million financing to UGRO Capital Limited by way of external commercial borrowing.
SNG & Partners provided comprehensive legal advice on the transaction, and drafted, reviewed and negotiated the transaction documents.
The transaction team consisted of Sharad Joshi (Partner), Rachit Verma (Senior Associate) and Prarthana Markod (Associate).
UGRO Capital Limited is a leading technology-enabled MSME lender. It offers a dedicated programme for secured and unsecured loans aimed at MSMEs and provides an end-to-end solution to its clients.
It employs a data-driven approach to provide customized financial solutions across sectors such as healthcare, education, chemicals, hospitality, light engineering, and food processing.
The company operates through various platforms like GRO Plus for intermediated sourcing, GRO Chain for supply chain financing, and GRO Xstream for co-lending partnerships. It leverages advanced data analytics and AI-based models, such as its proprietary GRO Score, to assess borrower risk and enable quick financing. UGRO has also pioneered a "Lending as a Service" (LaaS) model, collaborating with multiple banks and NBFCs.
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