Urban Money

NeoGrowth

NeoGrowth
4.5

NeoGrowth believes in the core philosophy of everyone deserves a chance to grow. As per reports, 48% of its customers saw growth in their credit bureau scores after taking their loans from the company while 12% lending was for female entrepreneurs as of FY2018-19.

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Loans offered by NeoGrowth

  • Business Loan
Loan Amount:₹1L - ₹75L
Interest Rate:24%
Processing Fee:2% - 4%
Tenure:2 Years
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ProductsInterest RateProcessing FeeLoan Amount/Tenure
Business Loan

24%

2% - 4%

₹1L - ₹75L

Tenure(0 - 2 Years)

Know More

NeoGrowth Overview

NeoGrowth believes in the core philosophy of everyone deserves a chance to grow. As per reports, 48% of its customers saw growth in their credit bureau scores after taking their loans from the company while 12% lending was for female entrepreneurs as of FY2018-19. 

  • NeoGrowth aims at being a financial support system for small businesses across the country. 
  • 50% of SMEs in the country do not get loans owing to obsolete methods of underwriting as per NeoGrowth. It seeks to serve this vast customer base with an inclusive approach.
  • NeoGrowth has disbursed more than $880 million in loans since the year 2013 when it was founded and is registered as an NBFC with the RBI. 
  • Creditworthiness is analyzed by taking only core business figures into account without any other discriminators. 
  • NeoGrowth is also a founding member of the Digital Lender’s Association of India. 
  • The financial institution’s line-up includes 16,552 businesses along with 700 employees. It has already expanded to cover 25 cities in India from its humble beginnings after being founded by promoters P. K. Khaitan and Dhruv Khaitan. 
  • Investors in the company include the Accion Frontier Inclusion Fund- Quona Capital, Khosla Impact, Aspada Investment Company, Omidyar Network, Leapfrog Investments and IIFL Seed Ventures Fund. 
  • The founders initially established Venture Infotek, a pioneering leader in the e-payments sector in India while also operating managed merchant transactions for credit card issuers, banks and big-scale loyalty programs. Venture Infotek eventually became a market leader in processing e-payments with 40% all-India card volume share.

Services Offered by NeoGrowth

DiGibizz- Knowledge Center, Know Your Digital Status, Explore Services, Success Stories Customer Services and Support
Retail Finance- NeoCash, NeoCash Insta, NeoCash Express, NeoCash Emerger Plus and NeoCash Plus. Supply Chain Finance- Purchase Finance, Vendor Finance, Vendor Finance Plus, Vendor Finance Express, Supply Chain Emerger Plus.
Online Seller Finance

Corporate Office and Contact Details

  • Registered Office: 802, 8th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel (West), Mumbai- 400013
  • Contact Number: 022-49290500

FAQs

From refinancing to reducing your interest, we have the answers right here.

Is NeoGrowth approved by the RBI?

Yes, NeoGrowth is approved by the Reserve Bank of India.

Who is the CEO of NeoGrowth?

The Chief Executive Officer of NeoGrowth is Arun Nayyar.

Is NeoGrowth NBFC?

Yes, NeoGrowth is an NBFC (Non-banking Finance Company).

What is NeoGrowth?

NeoGrowth allows vendors, retailers, and small and medium companies to customise their loans and schedule their payments as per their convenience. It offers instant loans approvals and quick disbursals of the debt amount. NeoGrowth offers credit facilities if the borrower wants to take a loan against property (more than the value of the property).

What is the interest rate of NeoGrowth?

The rate of interest of NeoGrowth is 24.00% for the loan amount ranging from a minimum of ₹ 1 Lakh and a maximum of ₹ 8 Lakh.

How many branches of NeoGrowth are in India?

At present, there are 25 branches of NeoGrowth in 25 cities in India.

Where is NeoGrowth Head office?

The main head office of NeoGrowth is registered at 802, 8th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel (West), Mumbai – 400013.

What is the NeoGrowth Customer Care Number?

You can contact the customer care of NeoGrowth on the following numbers 18004195565 and 9820655655. You can also email at their helpdesk at [email protected]

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