NeoGrowth Credit Pvt. Ltd.

NeoGrowth Credit Pvt. Ltd. , based in India, offers innovative financial solutions for Micro, Small, and Medium Enterprises (MSMEs) by providing a variety of tailored lending products to support their growth and operational needs. NeoGrowth Credit Pvt.

Ltd. operates as a financial services provider focused on MSMEs in India. Founded in 2011, the company is headquartered in Mumbai, India. Piyush Khaitan, the founder, previously established other ventures before launching NeoGrowth.

The company has successfully completed 14 deals, with the latest funding round being a VENTURE DEBT round of INR 810 mn led by MicroVest Capital Management. The total amount raised by NeoGrowth stands at INR 3,000 mn. NeoGrowth specializes in providing financial solutions primarily to Micro, Small, and Medium Enterprises (MSMEs) across India. The company offers a range of lending products designed to accommodate the unique needs of small business owners, including both collateral-free and collateral-based loan options.

These loans typically range from INR 5 Lakhs to INR 75 Lakhs, depending on the clients' business requirements and repayment capabilities. NeoGrowth utilizes a data science and technology-led approach to streamline the loan application process, allowing for quick eligibility checks, KYC verifications, and rapid loan disbursements. The target clientele includes retailers, manufacturers, traders, suppliers, service providers, dealers, and distributors, functioning within diverse industries such as retail, manufacturing, and services, primarily within urban and semi-urban markets throughout India. NeoGrowth's revenue for the most recent year, 2023, was INR 47,063,006, with an EBITDA of INR 23,701,848.

The company's business model is structured around B2B transactions, where it engages directly with small business owners seeking financing to support growth and operational needs. By leveraging digital payment data for underwriting, NeoGrowth can offer tailored financial products that meet specific client demands. The transaction structure typically involves small business clients submitting loan applications, which are evaluated for creditworthiness using advanced data analytics. Upon approval, funds are disbursed, and clients adhere to flexible repayment plans that may include daily, weekly, or monthly payment schedules.

In November 2024, NeoGrowth Credit Pvt. Ltd. raised INR 420 mn in VENTURE DEBT funding from new investor UTI Asset Management Company. The company plans to utilize this funding to expand its financial service platform, enhancing its offerings to better serve the MSME sector.

NeoGrowth is focused on developing new products that cater to evolving market demands and aims to launch these within the next year. Additionally, the company is strategizing to enter new geographic markets within India, although specific regions have not yet been disclosed.