Red Fort Capital has provided funding of ₹5 Crores to Up Money Ltd, with the aim of providing easy credit to rural areas in India for two-wheeler loans, three-wheeler loans, and Micro, Small & Medium Enterprises (MSMEs) to improve livelihoods. The loan will be used as working capital.
Based in Ludhiana, Punjab, Up Money boasts a strong network of over 1,100 employees and operates in more than 8,200 villages. It has 50+ operational branches and 250+ two-wheeler dealer network spread across Punjab, Chandigarh, Haryana and Himachal Pradesh.
The funding provided by Red Fort Capital will enable Up Money to expand its reach further, serving the financial needs of more people in rural areas of India. Up Money is dedicated to providing financial assistance to the rural population of India, promoting entrepreneurship and self-reliance.
Loan Amount: ₹5 Crores
Use of Capital: Working Capital Loan
Location: Ludhiana, Punjab