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NeoGrowth

NeoGrowth

NeoGrowth is an India-based digital lending platform focused on lending to small and medium business.

Founded in 2012 by Dhruv Khaitan and Piyush Khaitan, NeoGrowth is a non-banking financial company offering cash advance loans to small and medium businesses in India.

Loans

Rather then relying on traditional credit scoring, which many small to medium businesses in India lack, NeoGrowth analyzes data from point-of-sale data for customer turnover.The digitally underwritten loans are unsecured and borrowers can set up automatic payment schedules..

Funding
Venture

In March of 2014 NeoGrowth announced $1.62 million raised from Aspada Investment Company.

Series C

Announced in August of 2015, NeoGrowth raised $7 million in funding. The round was led by Khosla Impact with participation from Omidyar Network, Aspada Investment Company and Frontier Investments Group. NeoGrowth committed the funds to improving underwriting scorecards, more-fully automating loan approval and building a fully-integrated marketing and lead-generation engine.

Equity

Announced in July 2016, NeoGrowth raised $35 million in funding. IIFL Asset Management led the round with Accion Frontier Inclusion Fund, managed by Quona Capital. The round included participation from Omidyar Network, Aspada Investments and Khosla Impact.

Venture

The round, announced in January 2018, raised $47 million for NeoGrowth. LeapFrog Investments led the round with participation from Aspada Investments and Quona Capital.

Debt Financing

NeoGrowth announced $17 million in debt financing from France's Proparco SA in September 2019.

Timeline

September 13, 2019
NeoGrowth raises a $17,000,000 venture round from PROPARCO.
January 2018
NeoGrowth raises a $47,000,000 venture round from Aspada Investments, LeapFrog Investments and Quona Capital.
July 4, 2016
NeoGrowth raises a $35,000,000 venture round from IIFL, Aspada Investments, Khosla Impact, Omidyar Network and Quona Capital.
August 4, 2015
NeoGrowth raises a $7,000,000 series C round from Aspada Investments, Khosla Impact, Omidyar Network, Quona Capital and Social Venture Partners.
March 26, 2014
NeoGrowth raises a $1,600,000 venture round from Aspada Investments.
2010
NeoGrowth was founded by Dhruv Khaitan and Piyush Khaitan.

Funding rounds

People

Name
Role
LinkedIn

Arun Nayyar

Chief Executive Officer

B. Ravi Kumar

Chief Financial Officer & Company Secretary

G K Shettigar

Senior Vice President, Treasury

Sachin Bawari

Senior Vice President, Risk and Credit Policy

Sorabh Malhotra

Senior Vice President, Collections

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Abhijit Lele
March 25, 2021
@bsindia
The company, which lends to small businesses, mostly retail service units including shops, has assets under management of around Rs 1,350 crore

References

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