NeoGrowth

NeoGrowth Overview

NeoGrowth believes in the core philosophy of everyone deserves a chance to grow. As per reports, 48% of its customers saw growth in their credit bureau scores after taking their loans from the company while 12% lending was for female entrepreneurs as of FY2018-19. 

• NeoGrowth aims at being a financial support system for small businesses across the country. 
• 50% of SMEs in the country do not get loans owing to obsolete methods of underwriting as per NeoGrowth. It seeks to serve this vast customer base with an inclusive approach.
• NeoGrowth has disbursed more than $880 million in loans since the year 2013 when it was founded and is registered as an NBFC with the RBI. 
• Creditworthiness is analyzed by taking only core business figures into account without any other discriminators. 
• NeoGrowth is also a founding member of the Digital Lender’s Association of India. 
• The financial institution’s line-up includes 16,552 businesses along with 700 employees. It has already expanded to cover 25 cities in India from its humble beginnings after being founded by promoters P. K. Khaitan and Dhruv Khaitan. 
• Investors in the company include the Accion Frontier Inclusion Fund- Quona Capital, Khosla Impact, Aspada Investment Company, Omidyar Network, Leapfrog Investments and IIFL Seed Ventures Fund. 
• The founders initially established Venture Infotek, a pioneering leader in the e-payments sector in India while also operating managed merchant transactions for credit card issuers, banks and big-scale loyalty programs. Venture Infotek eventually became a market leader in processing e-payments with 40% all-India card volume share.

Services Offered by NeoGrowth

Corporate Office and Contact Details

• Registered Office: 802, 8th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel (West), Mumbai- 400013
• Contact Number: 022-49290500