New Delhi, Aug 24 (PTI) Aditya Birla Finance on Thursday launched B2B digital platform 'Udyog Plus', which will offer a range of financial solutions, including financing, advisory and value-added services, to MSME customers.

"Through the launch of Udyog Plus, ABFL aims to simplify the credit landscape by digitising the business loan journey for the MSMEs (Micro, Small and Medium Enterprises), leading to instant loan disbursals," Aditya Birla Finance (ABFL) said in a statement.

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MSMEs in Delhi-NCR can now avail of business loans of up to Rs 10 lakh through a completely paperless digital journey of Udyog Plus. In addition to unsecured business loans, the entire ecosystem of MSMEs, including promoters, owners and employees, can avail various other services offered by Udyog Plus, such as customised secured lending, insurance, investment solutions, etc.

ABFL has a strong presence in the MSME segment with around 50 per cent of its total loan book comprising business loans. As an established player in the market, ABFL continues to grow strongly, achieving a 37 per cent year-on-year growth in this segment.

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Aditya Birla Finance MD & CEO Rakesh Singh said Delhi-NCR is now home to more than 9 lakh MSMEs, providing employment for a significant number of individuals.

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Citi India acted as the senior investor and Northern Arc was the subordinate investor in the securitisation, wherein a bunch of loans is taken over by another financier.

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The offering has been launched in collaboration with fintech Zaggle, according to a statement.

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