Neogrowth
“Can a technology-driven NBFC become the dominant embedded credit layer for India's 63-million-strong MSME ecosystem by embedding repayments directly into merchant payout rails?”
Founded1993
HQMumbai, Maharashtra, India
Total raisedUnknown
Latest roundEquity + Debt round (Dec 2022 / Jan 2023)
IndustryFintech / Lending
The story
NeoGrowth Credit Private Limited was incorporated in 1993 but pivoted to become a fintech-driven MSME lending platform, using point-of-sale data and digital analytics to underwrite small business loans. The company pioneered daily repayment linked to merchant payment settlements (e.g., Zomato payouts for restaurant loans), differentiating from traditional term-loan structures. In 2022 it expanded from unsecured to secured lending, broadening its addressable market among India's MSME segment.
Product timeline
1993
Incorporated as NeoGrowth Credit Private Limited under ROC Mumbai.· pivot
2020
Reached Rs 1,340 Cr AUM and Rs 1,442 Cr total disbursements; achieved first-ever profit before tax of Rs 5.4 Cr.· lending
2022
Launched secured loan offerings for MSMEs, expanding beyond unsecured digital loans.· lending
2023
Raised USD 10 million debt from Microvest Capital Management to expand MSME financing.· lending
2024
Published Annual Report 2023-24 highlighting strong product suite growth and MSME impact across 25+ cities.· lending
Regulated entities
NBFC (Non-Banking Financial Company)
India (RBI)
NeoGrowth Credit Private Limited
The stack
Lending
Accounting gap: none