MAM
Ugro Capital appoints Anuj Pandey as CEO to steer its MSME engine into the next growth orbit
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.
Brands
Ekart expands IKEA partnership with EV deliveries in Chennai
3PL to handle 600 plus products with 48 hour delivery via EV fleet.
MUMBAI: Flatpacks are going electric and your sofa might now arrive with a smaller carbon footprint. Ekart has expanded its partnership with IKEA to power last-mile deliveries in Chennai, doubling down on speed, scale and sustainability in one of India’s key urban markets. Under the collaboration, Ekart will manage end-to-end large-format deliveries for IKEA across the city using a 100 per cent dedicated electric vehicle fleet. The move makes Chennai the second major market after NCR-Delhi where Ekart handles IKEA’s last-mile logistics, signalling a broader rollout of EV-led supply chains.
The mandate is no small load. Ekart will oversee deliveries for over 600 products from IKEA’s catalogue, ranging from furniture to home décor—categories that demand specialised handling and precision logistics.
Backed by its technology-driven fulfilment network, Ekart is targeting deliveries within a 48-hour window, offering real-time tracking and end-to-end visibility from warehouse to doorstep. The focus is clear: faster turnarounds without compromising on control or customer experience.
The EV-first model also aligns with both companies’ sustainability goals, as urban logistics increasingly shifts towards zero-emission solutions. For IKEA, which continues to expand its omnichannel presence in India, reliable and eco-conscious last-mile delivery is becoming central to scale.
For Ekart, the partnership reinforces its positioning as an enterprise-grade logistics player in large-format commerce. The company already supports over 1,800 retail, D2C and enterprise brands, spanning last-mile delivery, part-truckload services and warehousing.
As India’s logistics ecosystem evolves, this collaboration highlights a growing trend: delivery is no longer just about distance, it’s about efficiency, experience and increasingly, emissions.
