AB Capital launches platform for MSMEs
Mumbai: Aditya Birla Capital, the financial services arm of the Aditya Birla Group, through its lending company Aditya Birla Finance, has launched Udyog Plus, a one-stop business platform designed for MSME customers. The new B2B digital platform offers MSMEs financing, protection, investments, advisory, and value-added services for managing and growing their businesses. It has been designed as an open marketplace that can be accessed through the financing section of the Aditya Birla Capital website by both existing and new customers of Aditya Birla Finance for unsecured and secured loans as well as supply chain financing solutions.The financial products and services are available for MSMEs and their entire ecosystem including promoters, owners, and employees. Udyog Plus will give Aditya Birla Capital a platform to tap the tens of thousands of MSME that deal with AV Birla group companies Ultratech, Hindalco and Grasim.MD & CEO Vishaka Mulye said that the group has ramped up its plans to lend to the MSME sector, which contributes to 30% of Indias GDP.Mulye said that while the group was always focused on small businesses, the availability of information has made it possible to virtually draw up a balance sheet of small businesses based on GST, Income Tax, and bank statements, which lenders can now access in a straight-through manner.The group has built up a tech backbone which gives one view of the customer by accessing information of all customers at the holding company level and increases their ability to cross-sell. Aditya Birla Capital, a holding company, has announced plans to raise Rs 3,000 crore to fund the high-growth businesses in the group.
Thursday, May 18, 2023 at 1:30 am