Bengaluru, June 26, 2024: Udyog Plus, a B2B platform from Aditya Birla Finance Limited (“ABFL”), the lending subsidiary of Aditya Birla Capital Limited (“ABCL”), is capitalizing on its growth trend. Within nine months of its launch, the platform has attracted over 8 lakh users, highlighting its strong acceptance in the MSME sector.  ABFL has played a major role at facilitating access to finance in two minutes for MSMEs.

Udyog Plus has facilitated loan disbursements exceeding ₹500 crore, with the Aditya Birla Group (ABG) ecosystem contributing about two-thirds of this amount. The platform manages an AUM of around ₹250 crore, serving various lending needs, including unsecured business loans, merchant loans, supply chain finance, and working capital solutions. Additionally, many customers use Udyog Plus to access insurance solutions along with loans.

ABFL is expanding Udyog Plus within the ABG ecosystem and reaching a broader MSME audience. 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. 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 ₹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.

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