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NeoGrowth aims to digitise 2 lakh small businesses in FY’22 Launches one stop digital platform ‘DiGibizz’ to meet growing business needs of SMEs

Mumbai, February 24, 2021: NeoGrowth Credit Pvt. Ltd., a pioneer in SME lending in India, today announced the launch of an end-to-end platform to help SMEs become digital-ready. The company aims to help over 2 lakh SMEs meet their financial and non-financial business needs by offering access to integrated, best-in-class digital solutions.

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The platform was conceptualized based on research done during the pandemic that emphasized the crying need of small businesses to digitize their operations, as they faced stiff competition from big brands and online apps and portals.

The DiGibizz platform, powered by an in-house expert recommendation engine, guides any small business owner to evaluate his or her business’s digital readiness. Based on this evaluation, the recommendation engine Digit-O-Meter provides a customized report of practical measures to become digital-ready. Not only this, but the platform also offers many choices of execution partners with best-in-class business solutions for the digital enablement of small businesses. These include PayU, Snapbizz, FloBiz, Near. Store, Apna.co, Mobicommerce, Go Digit, Religare, BrandPulse Marketing Services, Pinnacle Management & Utility Services, Accunity Services, Smartech Electronics, Syrow, Vakilsearch, DigiHealth, etc.

“NeoGrowth has always focused on creating a positive social impact by lending to first-generation entrepreneurs, assisting women entrepreneurs, and supporting our customers to create jobs and improve credit scores through our loans. We understand the growth, financing, manpower, and other challenges that small business owners in India face. DiGibizz is our endeavor to digitally enable small businesses to overcome these challenges and drive business growth in the new normal.” said Mr. Piyush Khaitan, Founder & Managing Director, NeoGrowth Credit Pvt. Ltd.

Ms. Reshma Deokar, the owner of Advait Medical & General Store, Mumbai, one of the first customers of the platform, said, “In the fast-evolving pharma sector, diGibizz has supported a woman entrepreneur like me at the right time to upgrade my business. Today, my business has grown to the next level with NeoGrowth’s support.”

The diGiBizz platform is available on http://digibizz.neogrowth.in

Headquartered in Mumbai, the company serves 70+ industries with a presence across 27 cities in India. NeoGrowth has disbursed over INR 6,000 crores loans to 28,000 customers to date. To create a greater social impact by providing easy finance to under-served markets with advanced tech-solutions, the company disbursed loans to first-generation entrepreneurs, women entrepreneurs, and first-time borrowers. On the technology front, it has heavily invested in analytics, machine learning, digitization of customer journey, and digitally verified alternate sources of data, which has helped it reduce the turnaround time for loan sanctions and underwrite basis various types of alternate data. It provides financing to retailers, restaurants, apparel shops, Kirana stores, petrol pumps, groceries, pharmacies, and other MSMEs with flexible repayment options and customized products addressing multiple business needs.

About NeoGrowth:

NeoGrowth Credit Pvt. Ltd is a Systemically Important, Non-Deposit taking NBFC and a pioneer in SME lending based on the underwriting of digital payments data. NeoGrowth provides finance to small business owners to drive business growth that matches their ambitions. Hassle-free loans are powered by technology innovations and leverage the digital payments ecosystem. It provides financing to retailers, restaurants, apparel shops, Kirana stores, petrol pumps, groceries, pharmacies, and other MSMEs with flexible repayment options and customized products addressing multiple business needs. It not only helps its customers grow but also drives financial inclusion making a positive social impact. NeoGrowth is backed by renowned investors, namely Omidyar Network, Aspada Investment Company, Khosla Impact, Accion Frontier Inclusion Fund – Quona Capital, IIFL Seed Ventures Fund, and Leapfrog Investments.

For diGiBizz customer success stories, click here

For additional information, contact:
Mansi Mittal Kumar, NeoGrowth Credit Pvt. Ltd.

Contact: [email protected] | (+91) 9920931610

Ankita Shriwardhankar, Adfactors PR for NeoGrowth Credit Pvt. Ltd.

Contact: [email protected] | (+91) 9892136504

 

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