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NeoGrowth has received exclusive coverage in YourStory, in the article titled, “This fintech startup is enabling financial inclusion for women and first-time borrowers”, on 26th September 2021.
The article, written by Aparajita Saxena, Senior Associate Editor, highlights how NeoGrowth is a financial partner to small business owners. Based on the insights from the Social Impact Report 2021, the article discusses how NeoGrowth has simplified SME lending, based on the underwriting of digital payments data; thereby, solving SME pain points such as lack of collateral, insufficient credit history, while applying for loans, and making lending more inclusive.
Our CEO, Mr. Arun Nayyar, as quoted in the article, “Our product design is centred on the business model of the retailers as digital payments give a good sense of the business potential, seasonality changes, and customer footfalls in terms of underwriting. Also, this excludes any individual factor from the equation and focuses on the business potential, in terms of underwriting.” He further says, “Our mission is to fund small businesses by leveraging the digital ecosystem. Our financing not only helps our clients grow but also creates a positive impact. More than half of the retailers, although they are creditworthy, are denied finance on the basis of traditional underwriting method.”
Click here to read the complete article
