Aditya Birla's MSME lending platform Udyog Plus garners 8 lakh users in 9 months; AUM at Rs 250 cr
Kolkata: Aditya Birla Finance Limited’s (ABFL) B2B lending platform Udyog Plus has attracted over 8 lakh users in the MSME sector within nine months of its launch, the company said in a press release.
Udyog Plus has facilitated loan disbursements exceeding Rs 500 crore, with the Aditya Birla Group ecosystem contributing about two-thirds of this amount.
The platform manages an AUM of around Rs 250 crore, including unsecured business loans, merchant loans, supply chain finance, and working capital solutions.
The company is looking to capitalise on this growth trend, according to the release.
Many customers use Udyog Plus to access insurance solutions along with loans. The platform has partnered with major ecosystems such as e-commerce and digital platforms, business management platforms, and Digital Public Infrastructure like OCEN and ONDC, the company said.
These partnerships enhance the platform’s offerings and reach.
Udyog Plus also provides value-added services such as business networking, digital commerce, and applications for accounting and payroll, helping MSMEs streamline their operations.
The platform, including its mobile app, offers a complete digital journey from underwriting to collections, ensuring a seamless financing experience.
As Udyog Plus continues to expand, ABFL remains committed to delivering sustainable returns and enhancing its capacity to serve MSMEs.
This growth aligns with the increasing credit disbursement trend to micro, small, and medium-sized enterprises.
Recently, it has been observed that the MSME sector in India is experiencing a credit boom, with credit to micro and small enterprises growing by 18.6% to Rs 19.64 lakh crore in April 2024 compared to the previous year. Similarly, credit to medium-sized organizations also jumped by 16.5% during the same period.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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