U GRO Capital was conferred with the silver award in the category of the ‘SME Financier of the Year – Asia entry’ at the coveted Global SME Finance Awards, 2022. The award ceremony was held as a part of the Global SME Finance Forum, organised between 19-21st September in Phnom Penh, Cambodia.
Organized by IFC, a member of the World Bank Group, and the SME Finance Forum, the Global SME Finance Awards, 2022, recognises financial institutions and fintech companies for their outstanding achievements in delivering exceptional products and services to their SME clients. Endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI), the Global SME Finance Awards celebrate the outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to their SME clients.
Expressing happiness at the recognition, Mr Shachindra Nath, Vice Chairman and Managing Director, U GRO Capital Ltd., remarked, “We appreciate the recognition of our efforts in working towards our mission of ‘serving the underserved’ SME businesses. The digital depth of our foundation, our data-tech prowess combined with our sector-specific strategy has helped us focus on growth drivers for our partners and support them. We have a massive task ahead of us and we are confident of leading the transformation we have set out to accomplish of serving the potential of the SME industry. We thank the jury for the encouragement.“
The jury at the awards were impressed with U GRO’s business model – in particular, the targeting of specific, SME-heavy sectors, rather than simply trying to engage with SMEs in general. U GRO has leveraged the model to achieve profitability and growth while keeping risk at a manageable level. The jury felt that U GRO could be a significant new player in the SME lending space. The jury also took into account U GRO’s digitalisation journey and efficiency levels.
U GRO’s submission, which received significant praise from the jury was another factor in the application’s strength. The jury felt that the submission was detailed, thoughtful, and provided a wealth of supporting data. The jury was particularly impressed with the way operating data was presented in the submission. The award testifies to U GRO’s success, which is a result of robust planning and targeted marketing to eight specific sectors and micro enterprises.