Mumbai, June 17 -- UGRO Capital, a data-tech MSME (micro, small and medium enterprises) lending platform, is set to acquire Profectus Capital Pvt. Ltd from UK-based private equity firm Actis' companies Actis PC (Mauritius) and Actis Investment (Mauritius) in an all-cash deal amounting to Rs.1,400 crore, the lender notified the exchanges late on Tuesday.

UGRO will use the proceeds from the recent equity raise for the acquisition, with the objective of deploying capital into a "fully secured asset portfolio delivering instant scale benefits with zero origination costs," it said in a release. Profectus' secured lending business complements and aligns with UGRO's data-driven underwriting platform.

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