ZipLoan, RBI registered fintech, announced it has tied up with U GRO Capital limited, a listed, MSME lending fintech platform.
U GRO Capital has onboarded Ziploan on their co–lending marketplace GRO X-Stream enabling a co-lending partnership and have committed Rs 50 crore towards the program. This will strengthen ZipLoan’s mission to be able to meet the working capital requirements of MSME and deepen their presence in this sector, it said in a press release.
ZipLoan will be sourcing, underwriting, disbursing managing the portfolio of MSME loans. The partnership is also in sync with ZipLoan’s long-term growth strategy of strengthening its foothold in India’s growing FinTech markets by bolstering its leadership ranks,the press release added.
Kshitij Puri, Co-Founder and CEO, Ziploan, said, “We believe next 3-4 years will see a rapid growth in the MSME segment and we intend using a digital first approach to address their needs.”
Shachindra Nath, Executive Chairman & Managing Director, U GRO Capital Limited, said, “We are pleased to on board Zip Loan on GRO – Xstream platform of U GRO. GRO – Xstream means GRO Accelerator which is emerging a preeminent platform to provide capital to serve the underserved MSME market. We believe that over period of time large lending institution can also benefit with our technology integration with these platforms and provide more capital to each of our partner on the platform”
