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NeoGrowth receives an exclusive coverage in The Indian Express, March 26, 2019
Excerpt from the article:
The digital lending space in the country is abuzz with a bevy of financial technology (or fintech) companies - or peer to peer (P2P) lenders, as categorized by the Reserve Bank of India - entering the segment targeting the unmet demand from Indian micro, small and medium enterprises (MSMEs), as well as consumers, for credit. From a small segment a few years ago, India has now about 338 lending startups, according to the India Fintech Report 2019 by global fintech insights platform Medici and Zone StartupsPiyush Khaitan (PK), founder and MD, NeoGrowth Credit Pvt. Ltd, said, "The MSME lending landscape is evolving and is set to be disrupted by digital lenders, backed by continuous thrust by Government of India towards digitization through demonetization, Unified Payments Interface launch, India Stack and the introduction of GST." There is a shift from predominantly "feet on street" agent-based business model to a more digital approach, he said.
NeoGrowth participated at FICCI's PICUP Fintech Summit, March 14, 2019
NeoGrowth receives coverage in Fortune India magazine in an exclusive story on its Investment Partner Omidyar Network, titled 'Doing Good is the Bottom Line'.
Excerpt from the article:
OMIDYAR NETWORK INDIA made its first investment in India in 2008 and has, thus far, invested close to $300 million across equity investments (70% of the corpus) and grants (the balance 30%). As of December 2018, Omidyar Network India had 76 active investments across six impact areas that it has identified-digital identity, education, emerging technology, nancial inclusion, governance and citizen engagement, and property rights. "There was a clear alignment with our mission and our common purpose of social impact, which also met the criteria that Omidyar was looking for in a fintech investee," says Piyush Khaitan (PK), founder and managing director of NeoGrowth. Over the years, NeoGrowth has raised around 500 crore from a clutch of investors, including Omidyar Network India, Aspada Investment Company, Khosla Impact, Accion Frontier Investment Fund-Quona Capital, IIFL Seed Ventures Fund, and LeapFrog Investments. Speaking of NeoGrowth's experience with Omidyar Network India as an investor, Khaitan says it has been "fantastic". "They provide strategic advice and direction. Moreover,
they aren't interfering as investors and leave it to the management to run the business. They have the wisdom and maturity to share their point of view but not force it down the company.”
NeoGrowth receives an exclusive coverage in TJinste, a premier HR magazine by TOI group, in a story titled 'Performance appraisals: What India Inc. plans to offer to its employees'.
Excerpt from the article:
A TimesJobs survey of more than 3,000 HR professionals was conducted recently to understand the performance appraisal process in their organisations, and how happy were the employees with the appraisals and rewards. The survey analysis by Sukriti Yaduwanshi reveals that as per 71% of employees, organisations still fall short of a watertight approach in identifying the true potential of employees and rewarding them accordingly.
Piyush Khaitan (PK), Founder & MD, NeoGrowth commented, "At NeoGrowth, we have built a performance-driven culture. We don't try to force-fit a bell-curve, especially for smaller units and functions. We are performance & meritocracy driven organisation where we reward the top 5% to 10% performers with reasonably high increments. Exceptional performers are promoted in the very first year of joining or given promotions in consecutive years. At NeoGrowth, promotion leads to a change in the role & expansion of the span of control.”
NeoGrowth undertakes Women-centric initiatives on the occasion of International Women's Day
