After spending more than two and a half decades in the financial services sector and building various business colors within the Religare portfolio, a very good move for Shachindra Nath to start its own business.
Former Group CEO of Religare is extremely proud about building a business that will address the problem of SME credit in India. However, unlike other CEOs, Nath did not choose the traditional path from the start, especially fintek companies.
However, to start entrepreneurial journey
he began to want to study NBFC. After reading the recording of the five NBFCs, Nath acquired Chokhani Securities and was adorned as Ugro Capital, where he bought INR 8500m as capital (appointed to QIPs, PEs and HNI) and senior management on board.
Facing his entrepreneurial experience with Indian Entrepreneurs, Nath said when we were busy working for a company, we could not see the infrastructure and ecosystem to support us. But if you start your business, but your own marketing or networking experience.
you have to do everything. Secondly, when you see the credit in your bank account every month over 20 years and realize that it will not happen over the next few years , it’s so bad. ”
In addition, financial services as a growth sector for wealthy Indians and Nath consider themselves to have a wider market of financial experience.
“Earlier, I became instrumental in building two insurance companies, big asset management companies and NBFCs when I saw a wider market for what I should do and where the majority of the board would be – NBFC was selected,” he added.
Watch the Right Class
The real gap of SME credit in India. The segment contributes about 30 percent to the country’s GDP, but the capital gap in the sector is USD 650b.
Nath, singing to build a company out of Ugro Capital to address India’s credit requirements for SMEs, believes that there is a gap in the sector because the credit of the organization does not know the lender’s bottom line and its operating properties are very good.
“Historically, UKM has become an unorganized sector, banks traditionally compiled cash flow statements, balance sheets, etc.
Structural organizations that are not formatted as a challenge for banks, NBFC and us,” he added, “If you only see the reported amount, can give debt to SMEs; however, if there is a way to determine income, potential growth, natural business and behavior, then we will be able to get the debt. ”
In other words, entrepreneurs say that all about how to look for real cash rels for small disbursements and how to provide service and return money.
“You have to design your organization according to customer or to the person who chose, then build the ability to lend a loan according to him,” he said.
At the present age, where every fintech company is keen to launch MSME, Nath is not interested in expanding the company’s dotcom and sells it in a few years.
Expressing his vision for Ugro, he said, “We will be a technology that is supported as another fintech beginning but we want to build a business for ever so that the registered company makes sense.”
Additionally, technology can only cope with data-driven problems. The problem with SMEs is almost no data set up.
However, with GST and some other initiatives, this can be replaced. “So, just by using technology – you can not build a measurable platform. You have to use the right technology and human justice.”
Ugro now wants to build platform technology itself, which can combine every fintek on the same board.
“One of the advantages we will run from other NBFCs is that from now on – in the same generation as fintech starters and thus we can join them better.” Remembering our beginning, we will be quite experienced with the people, “he said.