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Digital lending non-banking financial company focused on MSMEs NeoGrowth has reported growth in its assets under management (AUM) to Rs 1,850 crore for the financial year 2022-23 from Rs 1,550 crore in FY22. In terms of disbursements, the company disbursed loans amounting to nearly Rs 1,900 crore in FY23, up by 30 per cent from the previous fiscal. Around 30 per cent of the loans were towards supply chain finance designed for vendors, manufacturers, suppliers or service providers who serve large corporates and around 70 per cent were into retail finance for customer-facing businesses.
Moreover, the company’s total income grew from Rs 360 crore in FY22 to Rs 380 crore in FY23. The net margin also grew by 7-8 per cent.
