NeoGrowth raises ₹85 crore to expand digital lending capabilities
MSME-focused lending platform NeoGrowth has secured ₹85 crore in a mix of debt and equity funding.
Funding DeskPublished 1 min read
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MSME-focused lending platform NeoGrowth has secured ₹85 Cr ($8.8 Mn) in a mix of debt and equity round, according to Inc24. The funds will be used to expand its digital lending capabilities.
The round was led by investors, though specific details of all participating entities were part of the announcement. NeoGrowth provides loans and credit facilities to micro, small, and medium enterprises through digital channels.
Why it matters
This funding injection provides fresh capital for NeoGrowth to scale its technology stack and expand credit access for micro, small, and medium enterprises. For the broader lending sector, capital raises of this scale highlight continued investor interest in specialised digital credit platforms targeting underserved small businesses. As fintech lenders enhance their digital infrastructure, MSMEs can potentially experience faster loan processing times and more tailored financing options, though borrowing costs and eligibility will depend on individual platform risk assessments and prevailing market conditions.
- Economy
Sources
Source: Inc24, Anjali Jain