NeoGrowth crosses Assets of Rs. 1,000 crore.

Published on :   Oct / 31 / 2018

A Momentous Occasion Marking Yet Another Milestone Achievement.

NeoGrowth achieves a new milestone of crossing Asset Under Management (AUM), of Rs. 1,000 crore today.

Speaking on this occasion, Dhruv Khaitan (DK), Founder & Chairman of NeoGrowth said, "It gives us immense pleasure to cross the milestone of Rs. 1,000 crore in AUM. This landmark is a reflection of the faith and confidence our customers and stake holders have bestowed in the company. We've had a great journey having scaled up disbursements from Rs. 9 crore in FY 13 to Rs. 1,350 crore in FY 18. We have set a target of Rs. 3,300 crore for the next financial year."

Businesses have benefitted from NeoGrowth's unique tech & touch model, augmented by the in-house technology platform and smart analytics of the digital spends data. NeoGrowth's tailor-made approach using digital payments helps merchants to plan their cash flows better and also boosts entrepreneurship and job creation, thereby enforcing its mission of creating a positive impact in society.

 

NeoGrowth has partnered with over 13,000 businesses assisting them in their business growth and has 21 branches in various cities spread across the country. While doing so, the company has also remained focused on creating a positive social impact by lending to women entrepreneurs and first-time borrowers, and also creating jobs and improving the credit profile of its customers.

“We will continue with our expansion plans into these markets and keep innovating to come up with better solutions to help the SME segment in the best possible manner. In the next 5 years we aim to cross Rs. 7,000 crore in AUM; in other words, build a billion-dollar balance sheet”, DK added.

 

Additional References

  1. NeoGrowth crosses 1000 crore in Assets Under Management by Business World
  2. NeoGrowth hits Rs 1000 crore of AUM by Economic Times