NEOGROWTH CREDIT PVT. LTD.
Status: Approved investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
NeoGrowth Credit Pvt. Ltd is an early stage Fintech SME merchant cash advance lender in India.
What is our funding objective?
NeoGrowth will use the funding from FMO to on-lend to micro, small and medium-sized retail merchants.
Why do we fund this investment?
The loan to NeoGrowth achieves FMO's goals of providing access to finance to first generation entrepreneurs. Traditional bank underwriting excludes a large portion of creditworthy SME merchants because they do not have reliable financial statements, credit history ("thin file" customers) or equipment or similar assets that can be provided as security for a bank loan. NeoGrowth assesses creditworthiness based on the cash-flows through the POS terminals of merchants and loan collection happens electronically on a daily basis, addressing seasonality in the business of merchants.
What is the Environmental and Social categorization rationale?
NeoGrowth is an Environmental & Social category C client, as it provides short term loans to small and medium merchants. NeoGrowth has an Environmental, Social and Human Capital Policy in place with an exclusion list and follows good consumer protection practices.
More investments
| Date | Total FMO financing |
|---|---|
| 11/25/2022 | INR 1599.96 MLN |
| 7/15/2022 | INR 800.00 MLN |
| 11/18/2022 | INR 600.00 MLN |
| 3/23/2022 | INR 650.00 MLN |
- Website customer/investment
- http://www.neogrowth.in
- Region
- Asia
- Country
- India
- Sector
- Financial Institutions
- Publication date
- 7/16/2020
- Effective date
- 12/7/2020
- Total FMO financing
- INR 740.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C