MUMBAI: In India’s rapidly evolving fintech theatre, few stages are as critical-and crowded-as MSME lending. Now, Ugro Capital, the Datatech-driven non-banking finance company, has shuffled the deck and handed the reins to a man who helped script its earliest chapters. On 24 June 2025, Ugro announced the elevation of Anuj Pandey—its founding team member and chief risk officer—as its new chief executive officer (CEO).
Pandey steps into the top role at a pivotal moment. The company recently crossed Rs 12,000 crore in assets under management, announced the strategic acquisition of Profectus Capital, and completed a large capital raise. With over 300 branches now in play, Ugro is transitioning from growth mode to scale mode—and Pandey has been handed the wheel to steer that transition.
As CEO, he will lead Ugro’s national MSME operations, digital lending platforms, and partner ecosystem. He will report to Shachindra Nath, founder, VC, & managing director, who continues to helm the company’s strategic direction, governance and investor relations.
“Anuj’s elevation as CEO is a natural progression in Ugro’s evolution as an institution. As a founding member and chief risk officer, his deep understanding of MSME lending, risk, and technology-driven operations makes him ideally suited to lead execution. I will remain fully accountable for Ugro’s strategic and governance matters, while Anuj takes full charge of the business. With recently concluded acquisition of Profectus and a large capital raise, I along with my Board felt that Ugro should be steered under one strong hand who exclusively focuses on the operating performance while I continue to focus on the strategic agenda of making Ugro as India’s largest financial institution for MSME financing”, said Nath.
Pandey, an alumnus of IIM Lucknow with a B.Tech in Mechanical Engineering, brings over 25 years of experience from GSK Consumer, ABN AMRO, Barclays and Religare. At Ugro, he has built its credit and risk architecture from the ground up, helping shape the company’s data-first approach to MSME financing.
“I have been working with Shachindra for last seven years even prior to our formation. Being part of Ugro’s founding journey has been a privilege. I look forward to leading the next phase of growth — expanding our MSME reach, scaling embedded finance, and continuing our mission of ‘solving the unsolved’ credit gap with discipline and innovation”, Pandey said.
His elevation signals Ugro’s ambition to pair entrepreneurial vision with institutional rigour. As it scales new lending frontiers, the company appears intent on anchoring growth with continuity—and trusting those who helped build the ship to now captain it.
