Mumbai: When it comes to India, digital lending is one of the country’s fastest expanding fintech segments, accounting for 60 per cent of the overall Indian fintech market by 2030. It is predicted to grow to a $1.3 trillion market opportunity by 2030, up from $270 billion in 2022. The spread of formal finance, rising per capita income, and increased internet penetration, among other factors, will accelerate the expansion of digital lending.
Very obviously, in volatile times or otherwise, businesses often need funds for working capital or expansion or replenishing stock. And to help U GRO Capital to address these needs, Scarecrow M&C Saatchi created a one-of-its-kind 3D animation film, Fund Island for the launch of its GRO X App.
Indiantelevision.com spoke to U GRO Capital vice chairman and managing director Shachindra Nath and the creative agency behind this carefully crafted film – Scarecrow M&C Saatchi founder director Manish Bhatt, who talk about U Gro Capital’s first film since its launch in the market, the creativity that went behind putting this film together, and more.
The film is about a business owner whose factory is at a standstill due to a shortage of funds. He sends an SOS via his cell phone, which is metaphorically represented as a message in a bottle. It is spotted and picked up by the messenger of the U GRO Capital realm, a pelican.
This message passes through a hierarchy – an analyst, represented by an ever-watchful rooster, and an emperor, represented by a sharp-eyed eagle. After due diligence of KYC and other processes by the team of data analyst roosters, the loan is approved.
The approval letter is put in the same bottle and fired through a cannon to quickly reach the business owner’s cell phone. And all this is done in just a few moments. This shows that when a business owner is marooned due to lack of money, U GRO Capital’s GRO X App will give the funds swiftly so that the business owner gets the freedom to run his business non-stop.
Edited excerpts:
On the launch of U Gro Capital and choosing the advertising route after some time
Nath: U GRO Capital is India’s first listed fintech start-up and was formed in July 2018 by raising approximately INR 900+ Cr of Equity Capital. The Company was envisaged to be built as India’s largest small business financing platform combining the power of Data & Tech. Over the last 4 years in spite of broader challenges to the lending industry, U GRO Capital has successfully built an AUM of INR 6,000+ Cr and with a monthly disbursement of more than INR 500 Cr as of March 2023.
It has truly demonstrated the power of Lending as a Service (LaaS) by being one of the most preferred partners for Banks for Co Lending. Its unique Data-driven GRO Score is a leading platform for accessing the credit for small businesses in India and has recently launched GRO X, an app that gives small businesses’ Non-stop Business Karne ki Azaadi’. U GRO Capital has also announced a second capital raise of INR 340 Cr from marquee institutional investors.
Our endeavour is to change the life of small businesses, and according to us, this is the right time for U GRO Capital to advertise and build brand awareness among MSMEs as we intend to reach 1 million small businesses.
On market competition
Nath: Our focus is on applying data-tech led credit models in providing lending solutions to small businesses. In this target segment, there are hardly any established brands and the opportunity is immense. We want our customers to experience the delivery of our promise “Non-stop business karne ki Azaadi”. Our endeavour is to build the brand through superior customer service over the long term.
On the important markets for U GRO Capital in India
Nath: U GRO Capital has a presence in 23 large cities and 75 smaller cities, with a large focus on the states of Rajasthan, Tamil Nadu, Gujarat, Karnataka, and Telangana. In these states, we have micro-enterprise branches where we service the credit need of small business customers by understanding their business and cashflows, and extending them credit.
On the target group (TG)
Nath: U GRO Capital is a listed NBFC focused on MSME financing. Our idea is to service every credit need of every MSME, and we serve close to 50,000 MSME customers today across all major states in the country. We intend to double the customer base in the next financial year. Our investment in data-tech architecture & distribution has resulted in demonstrable credit solutions to customer needs in real-time. Our brand strategy, reach, and communication is intended to reflect the same.
On the brief that was given by the client
Bhatt: The brief was very simple — the datatech, developed by U GRO is a unique innovation in the financial services & fintech space, which is U GRO’s strength & differentiator. Find a way to showcase this in a unique and clutter-breaking manner to all our customers & stakeholders in the fairly crowded TV and digital space.
On the creative thought behind such a film
Bhatt: A business owner who is in sudden and sporadic need of funds to grow his business is like someone marooned in an ocean. All he can do is press an SOS button to request the funds.
Now it is upto benevolent, proactive, intelligent, able and powerful empire called Fund Island, headed by a sharp-eyed eagle and experienced veteran, a painstaking backend of data analyst roosters, and flying and hovering search engines like pelicans, to analyse, process, approve, and provide funds in the blink of an eye.
On the usage of such craft in the film
Bhatt: Digital technology is invisible and can’t be showcased in an effective, clutter-breaking and memorable way. So, showing it in a dramatic retro-futuristic way in steampunk style in 3D animation is an interesting solution.
On the behind-the-scenes of making this film
Bhatt: A lot can be imagined between a needy business owner pressing an SOS button on his mobile to request funds, and he receives a notification/alert on his mobile of his receiving the requested funds.
We asked 15-20 young designers, visualisers and freshers of Scarecrow M&C Saatchi to just imagine and draw the wildest, original and unique storyline between the SOS message asking for funds to the alert message of fund received (joining the dots of point A to point B).
After a couple of dozens of storylines in the form of storyboards, we shortlisted one and briefed the most imaginative and talented illustrator and veteran, Deelip Khomane, to draw a fresh storyboard based on the shortlisted storyline – THE FUND ISLAND.
After that, the team intellectualised the Fund Island by weaving backstories of architecture, look-feel, interiors, props of Fund Island, and the character briefs for pelican, eagle-king and roosters.
We collaborated with Bosco Bhandarkar along with Good Morning Films and Zink, an animation house from Toronto, and of course, the U Gro Team. We had hundreds of huddles and iterations to finalise what you see on the screen today, which is fascinating and a not-so-explored 3-D animation film.
We accentuated the grandness of the film by roping in a music expert like Sameeruddin. We also executed the live shoot for the opening and end sections of the film with convincing actors and performances.
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