The company is focussed on eight sectors shortlisted on the basis of an 18-month process involving the extensive study of macro and micro-economic parameters carried out in conjunction with market experts like CRISIL.
The eight sectors shortlisted are healthcare, education, chemicals, food processing or FMCG, hospitality, electrical equipment and components, auto components, and light engineering. These sectors are further divided into 38 sub-sectors and clusters.
The company has five technology modules which figure to play key roles in the facilitation of its asset engine going forward:
- GRO Plus: Designed for traditional branch-led disbursement which has fully integrated every element of underwriting digitally (using all conventional parameters). The platform allows for GRO Partners to obtain loan approval within 60 minutes.
- GRO Direct: U GRO’s Direct Digital channel, a platform built to allow for non-intermediated loan applications from eligible SMEs. Launched in Beta in December 2019 across two subsectors, the reach of GRO-Direct will be greatly expanded upon in 2020.
- GRO Chain: an upcoming end-to-end platform for supply chain financing that will cater to ecosystem Anchors, vendor borrowers and dealer/distributor borrowers
- GRO Xstream – a tech platform for U GRO’s BFSI partners which integrates the loan origination and underwriting model with the lending mechanism of the large banks, in order to facilitate a range of transactions including co-lending, assignments and securitization.
- GRO Score: U GRO’s proprietary sector-specific statistical scorecards based on commercial bureau data and proprietary algorithms that are implemented across all loan applications
The Company is expanding the offered product base to include smaller ticket loans through the nascent direct digital and digital partnership channels, so as to provide specialised credit to a larger pool of small businesses.