NeoGrowth, an MSME-focused digital lender secures a $10 million investment from MicroVest Capital Management, a US-based global investment firm. The investment will help NeoGrowth extend financing to small businesses across India while helping the company get the required growth capital.
NeoGrowth’s Managing Director and CEO Arun Nayyar stated: “NeoGrowth is dedicated to funding India’s small businesses by leveraging the digital payments ecosystem. This support from MicroVest will allow us to continue making a positive impact on SMEs. The funding will be used to help accelerate the growth of MSMEs and integrate them into the mainstream financing ecosystem.”
NeoGrowth has nearly a decade of experience in SME lending and has served over 150,000 customers, disbursing over $1 billion in loans across 25 locations in India. The company’s digital payments-based lending, modular product suite, analytics-based underwriting, and flexible repayment options are essential in providing credit access to SMEs. NeoGrowth is consistently innovating to meet the financing needs of its customers for their various business needs.
Categories: Other News
Leave a Reply Cancel reply