UGRO Capital Secures Rs 260 Crore from FMO to Empower Women and Youth

UGRO Capital has raised Rs 260 crore from Dutch lender FMO to fund women's and youth empowerment initiatives and address territorial inequalities. Eurobank SA plans a Mumbai office, while Nikhil Kamath provides financial support to 22 startups. Bharat Financial Inclusion partners with Tripura government to launch a livestock care helpline.

Non-bank lender UGRO Capital announced on Thursday its successful raising of Rs 260 crore through a non-convertible debenture issue from Dutch lender FMO. This capital will fuel initiatives focused on advancing women's empowerment, rectifying territorial inequalities, and promoting youth empowerment.

Additionally, Eurobank SA is considering establishing a representative office in Mumbai. Addressing an event hosted by the Indian Chamber of Commerce, CEO Fokion Karaviasn expressed confidence regarding their application to the Reserve Bank, anticipating positive progress shortly.

In entrepreneurship news, Nikhil Kamath, co-founder of Zerodha, has awarded a grant of Rs 20 lakh each to 22 startups led by entrepreneurs under the age of 25 as part of the second cohort of the Wtfund. Meanwhile, Bharat Financial Inclusion announced its collaboration with the Tripura government, expanding its 'Bharat Sanjeevani' livestock care helpline programme to ten states with the latest inclusion of Tripura.