Debt financing
SME-focused fintech co Neogrowth raises $10-M from US-based impact investor Microvest
Mumbai-headquartered, small business-focused fintech player Neogrowth has raised USD 10 million debt from US-based impact investor Microvest Capital Management. Founded by Dhruv Khaitan and Piyush Khaitan, Neogrowth offers loans to first-time entrepreneurs, women business owners, and underserved small businesses across 70 MSME segments. It claims to have served over 1,50,000 customers, disbursing over USD 1 billion in loans across 25 locations. The fresh funds will be used to further extend growth capital to small businesses.
From the Venture Intelligence PE-VC Deal Database: Between May 13 and Dec 22, NeoGrowth had raised over USD 117 M from Lightrock India, LeapFrog, Accion International, IIFL VC, Omdiyar Network, Khosla Ventures and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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