Fintech unicorn Yubi is partnering together with U Gro Capital to address the financial challenges of MSMEs

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This partnership will allow U GRO Capital to leverage the full-stack operation system of Yubi to search for, launch and work with multiple partners who are on the platform of Yubi.

The online market for debt Yubi(formerly CredAvenue) announced the signing of a partnership with BSE listed MSME lending platform U Gro Capital. The partnership will involve an integration between both Yubi Co.Lend (co-lending platform) as well as Yubi flow(supply chain finance platform) together with GROXstream (BFSI-led channel that is BFSI-led) as well as GRO-Line(supply chain finance) platforms as well as GRO-Line (supply chain finance).

The fintech giant claims that, according to its website the partnership will allow GRO Capital to allow GRO Capital to leverage the full-stack operation system of Yubi to effortlessly discover, launch and collaborate with a variety of partners who are on the platform of the latter.

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Speaking about the collaboration, Gaurav Kumar, the founder and Chief Executive Officer of Yubi stated: “We, at Yubi work towards increasing financial inclusion across the country with a technological-driven credit infrastructure that enables the discovery, execution and fulfillment.”

The alliance will also allow U GRO Capital access Yubi Co.Lend’s network of financial institutions, banks and fintech with an API (Application Programming Interface) integration to provide credit to underserved segments across the country. The ultimate goal of both companies is to address the financial problems facing MSMEs by establishing vast expertise in the industry as well as a data-centric and technologically-based approach.

“With our approach to data-tech we were able start co-lending partnerships with the leading national banks. What began as an experiment, co-lending has grown in popularity and has been accepted throughout the business,” said Shachindra Nath Vice Director and Chairman of U GRO Capital.

The co-origination or co-lending program that was initiated by RBI creates a structure to allow co-operation between two different financial institutions such as a bank or an NBFC (Non-Banking Financial Institution)–to co-finance the customer’s requirements. Yubi said that by combining the lower cost money of a bank, and the capabilities on-the-ground that an NBFC in servicing and sourcing the alliance, it leverages advantages of each lenders, resulting in an ideal solution for all parties.

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