At NeoGrowth, we truly believe we have created a product which serves the need of businesses in India. We are a NBFC registered with RBI and started commercial operations in 2013.
Traditional underwriting methods in India exclude more than 50% of creditworthy SMEs. It is this fundamental premise on which our business is built and we have a mission to bring a social impact in this segment. We cater to this under-served market by adopting an innovative approach and validating the creditworthiness of the business. We do so by looking at current business performance and stability.
Having piloted the product in 2012-13, NeoGrowth has launched commercial operations in a tech n’ touch model in Mumbai, Bengaluru, Delhi, Chennai, Coimbatore, Pune, Kolkata, Hyderabad, Jaipur, Chandigarh, Ahmedabad, Lucknow, Ludhiana, Surat, Mysore, Madurai, Nagpur, Indore, Vadodara, Vijayawada & Vizag and plans to expand to other markets in India shortly. We have partnered with 7000+ business merchants so far to grow their businesses.
The company has been promoted by Dhruv Khaitan (DK) & Piyush Khaitan (PK) and is backed by Omidyar Network, Aspada Investment Company, Khosla Impact and Accion Frontier Inclusion Fund (AFIF)- Mauritius, IIFL Seed Ventures Fund I and WestBridge Crossover Fund, LLC. The Khaitans are entrepreneurs, who together founded and managed Venture Infotek. The company was a pioneer and leader in the Indian e-payments industry and managed merchant transactions for acquiring banks as well as credit card issuers and large loyalty programs. They divested the company to a large European IT Services Company in 2010. By then, Venture Infotek was the market leader in e-payments processing with a 40% share of all India card volume
Our tech-enabled processes and smart analytics ensure that we offer the best products and services in the market. Our in-house technology platform, is tailored to meet the unique requirements of NeoGrowth’s innovative loan products.
NeoGrowth has a valid Certificate of Registration last updated on September 12, 2014 issued by the Reserve Bank of India under section 45-IAof the Reserve Bank of India Act, 1934. However the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinion expressed by the company and for repayment of deposits / discharge of liabilities by the company.
NeoGrowth is a values driven company and that is reflected in the following nine values. All our products, processes and services are built around these values and we proudly adhere to it. It is what makes us tick in the competitive marketplace that we operate in.