Mastercard partners with U Grow Capital to support small businesses in India
National
Mastercard, a global technology company in the payments industry, has tied up with U Grow Capital, an NBFC specializing in MSME financing, to expand financing solutions to small businesses in India who need financial assistance to sustain and scale their operations. Needed. Is necessary. MSMEs in India have long been grappling with major challenges, including limited access to capital. According to recent reports, only 14 percent of the over 64 million MSMEs in India have access to credit. U Grow Capital will leverage its proprietary underwriting and cash flow backed valuation model to offer short-term loans to dealer-distributors and last-mile retailers in addition to other small businessmen and women entrepreneurs. Mastercard had announced a global commitment to bring a total of one billion people and 50 million micro and small businesses, including 25 million women entrepreneurs, into the digital economy by 2025. This collaboration with U Grow Capital is in line with Mastercard's mission to advance financial inclusion.
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