NeoGrowth is a non-banking finance company with a focus on micro, small and medium enterprises (MSMEs).
NeoGrowth’s mission is to have a positive social impact on the nancial lives of small and medium business merchants across India, more than 50% of whom are creditworthy.
NeoGrowth was founded in 2013 by Dhruv Khaitan and Piyush Khaitan. The company is headquartered in Mumbai, Maharashtra, India.
NeoGrowth offers business financing services to small- and medium-sized retail companies that sell apparel, consumer durables and electronic items, footwear and accessories, handicrafts, gifts, food and grocery items, and optical goods as well as to restaurants, beauty salons, hotels, gymnasiums, and health diagnostic centers.
NeoGrowth's digital payments-based lending, modular product suite, analytics-based underwriting and flexible repayment options are key to enabling credit access to SMEs.
NeoGrowth has ₹1,600 crore of assets under management and is connected with over 1.5 lakh MSMEs. So far, it has disbursed over USD 1 billion in loans.
NeoGrowth is backed by Lightrock, FMO, Khosla Impact, WestBridge, US International Development Finance Corporation (DFC), LeapFrog Investments, Omidyar Network, Quona Capital, Microvest Capital, PROPARCO, IIFL Seed Ventures Fund, Aspada, and others. The company raised $10M in a Debt financing on Jan 17, 2023. This brings Neogrowth's total funding to $189M to date.