NeoGrowth raises $8.8 million for digital lending expansion
NeoGrowth, a Mumbai-based digital lender focused on small businesses, just secured ₹85 crore ($8.8 million) in new funding led by Dutch development bank FMO, with LeapFrog Investments also joining. The company plans to use the money to strengthen its AI-powered lending platform and reach more underserved small and medium enterprises (MSMEs) across India. NeoGrowth currently manages ₹2,000 crore in loans and has worked with over 400,000 businesses.
- Funding round led by Dutch bank FMO
- LeapFrog Investments also participated
- Supports AI-driven underwriting and risk technology
- Focus on expanding credit for MSMEs in India
Sources covering this
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