Innovative Model GRO SCORE has assessed over 1.7 lakh loan applications, analyzing over 5.6 lakh bureau records, 2.3 lakh bank statements, and 80,000 GST reports, unlocking vital capital for MSMEs across India
Mumbai, December 11, 2024: UGRO Capital, a leading DataTech NBFC focused on MSME lending, has achieved a groundbreaking milestone by receiving a patent for its proprietary credit scoring model, GRO Score. Officially titled ‘Method and System for Modelling Credit Scorecards,’ this patent underscores UGRO Capital’s pivotal role in reimagining credit evaluation for a highly diverse and underserved borrower base.
MSMEs contribute nearly one-third of India’s GDP yet face significant credit access challenges due to traditional lenders’ dependency on collateral and income-based assessments. UGRO Capital addresses this issue with GRO Score, a cutting-edge credit evaluation model leveraging alternate data, such as repayment histories, banking transactions, and GST records, to provide a comprehensive assessment of borrowers without formal income documentation.
Now in its third iteration, GRO Score 3.0 integrates advanced statistical algorithms to evaluate creditworthiness with unmatched precision. To date, the model has assessed over 1.7 lakh loan applications, analyzing over 5.6 lakh bureau records, 2.3 lakh bank statements, and 80,000 GST reports, unlocking vital capital for MSMEs across India.
Highlighting the significance of this achievement, Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, said, “Our GRO Score patent reaffirms our commitment to transforming MSME lending. By providing nuanced risk assessments tailored to the unique challenges of MSME borrowers, we are creating opportunities for growth and resilience within this critical sector. This recognition inspires us to continue driving innovation in credit evaluation and serve last mile MSMEs.”
This patent reflects UGRO Capital’s unwavering dedication to technological excellence and reinforces its mission to bridge the MSME credit gap. Through innovations like GRO Score, UGRO Capital is shaping a sustainable and inclusive financial ecosystem, empowering MSMEs and contributing to India’s economic growth.
