Udyog Plus, the B2B platform launched by Aditya Birla Finance Ltd (ABFL), has attracted over 800,000 users within nine months of debut. ABFL, a subsidiary of Aditya Birla Capital Ltd (ABCL), provides MSMEs fast finance access, enabling loan disbursements.

The platform has facilitated loans exceeding ₹500 crore, with the Aditya Birla Group (ABG) ecosystem contributing about two-thirds of this amount. It has Assets Under Management (AUM) of around ₹250 crore, catering to various lending needs such as unsecured business loans, merchant loans, supply chain finance, and working capital solutions. Additionally, many customers utilise the platform to access insurance solutions.

The Udyog Plus platform would grow within the ABG ecosystem and target a broader MSME audience. It has partnered with major ecosystems, including e-commerce and digital platforms, business management platforms, and Digital Public Infrastructure such as OCEN and ONDC, an official statement said.

Beyond financing, Udyog Plus provides value-added services such as business networking, digital commerce, and applications for accounting and payroll, aiding MSMEs in streamlining their operations. The platform, including its mobile app, offers a complete digital journey from underwriting to collections, ensuring a seamless financing experience.

The statement added that the MSME sector is experiencing a credit boom, with credit to micro and small enterprises increasing by 18.6 per cent to ₹19.64 lakh crore in April 2024, compared to the previous year. Credit to medium-sized organisations has also grown, rising by 16.5 per cent during the same period.