U GRO Capital goes live on Scienaptic’s AI-powered credit underwriting platform

NEW YORK & BANGALORE, India–(BUSINESS WIRE)–World’s leading provider of AI-based credit decision platforms, Scientific AI today announced that U GRO Capital, a listed Indian MSME lending fintech company, is now live on its platform. This collaboration will facilitate better early warning signal mechanism for credit underwriting and improve lending decision for MSME sector in India.

Launched in 2018, U GRO Capital strives to bridge the USD 600 billion SME credit gap, which is growing by 7% every year. U GRO Capital uses an industry-focused and technology-driven approach, leveraging fintech and fintouch to deliver tailored credit solutions to its MSME clients. The company aspires to capture 1% market share of the total MSME lending market by 2025.

Subrata Das, Chief Innovation Officer at U GRO Capital, said, “At U GRO Capital, we pride ourselves on being a ‘people company’ and providing a ‘you-centric’ approach to credit for small and medium-sized businesses. medium-sized enterprises that have never had access to formal services. credit. Our partnership with Scienaptic AI will help us identify emerging signals if our clients are experiencing financial difficulties and help them overcome their obstacles. This will support our mission to build India’s leading Lending-as-a-Service (LaaS) platform to solve the credit gap in the MSME sector. Our initial analysis indicates that Scienaptic’s platform resonates well with our technology architecture, as we continue to improve its usefulness.

“We are extremely excited to announce that U GRO Capital is now live on our platform. They are now leveraging our early warning predictive modeling for pre-emptive call and collect strategies on their existing customer base,” said Joydip Gupta, Head of APAC at Scienaptic “Our AI-powered credit underwriting platform will enable U GRO Capital to create an inclusive financial ecosystem for businesses that lack a suitable credit history.”

U GRO Capital has an AUM of INR 2,589 cr. It recently passed the 16,500 customer mark. As of January 31, 2022, the company had a network of 85 branches in nine states. It plans to reach over INR 20,000 crore of AUM, serving 250,000 MSME customers and expand to 270 branches by 2025.

About Scienaptic

Scienaptic is on a mission to increase the availability of credit by transforming the technology used in credit decision making. Over 150 years of credit experience is built into Scienaptic’s AI-powered native credit decision platform. Our clients from banks, credit unions, fintech and other lenders use the platform to constantly improve the quality of underwriting decisions. This allows them to say “yes” to borrowers more often and faster. The platform is used by lenders with assets exceeding $100 billion, enabling them to process more than $22 billion in credit decisions, benefiting more than two million credit union members and million borrowers at banks, car lenders and online. For more information, visit http://www.sciaptic.ai.

About U GRO Capital Ltd

U GRO Capital limited is a listed fintech platform (NSE, BSE) lending to MSMEs. U GRO Capital’s mission is “Solving Unsolved Problems – Small Businesses’ Need for Credit” with its omnichannel distribution model combining the physical and digital customer journey. The company envisions spearheading the transition of the Indian MSME lending market to the new era of on-demand financing. It uses the emerging data tripod of GST, Banking and Bureau coupled with its industry analysis to solve the credit problem for small businesses.

U GRO aspires to serve one million small businesses with an asset portfolio of 1% of India’s MSME credit outstanding as a first milestone.

Technology underpins every aspect of U GRO’s lending process, from API integrations, sector and sub-sector statistics dashboards, state-of-the-art AI/ML credit underwriting engine combining bank, office and GST statement analyzers, automated policy approvals and machine learning. OCR technology. The Company’s GRO Extreme platform enables fintech and other institutional platforms to deepen their distribution reach through seamless plug-and-play API-driven integration with U GRO. The company has developed a comprehensive technology stack to fully automate the entire lifecycle of a loan, from origination to collection, throughout the customer journey.

The company has raised INR 2,500 crore in equity and debt capital from reputable private investors, family offices, banks and other financial institutions over the past three years.