NeoGrowth raises 300 crore in series D round from Dutch entrepreneurial development bank FMO.

• ByStartupStory     |    December 15, 2022

The Bengaluru-based MSME-focused digital lender NeoGrowth has raised Rs 300 crore from Dutch entrepreneurial development bank FMO, along with its existing investors.The company got backed by Omidyar Network, Lightrock, Khosla Impact, Accion Frontier Inclusion FundQuona Capital, IIFL Seed Ventures Fund, WestBridge, and Leapfrog Investments.

They have an asset of around Rs 1,600 crore under management, and are connected with over 1.5 lakh MSMEs across the country. 

Arun Nayyar, Managing Director & CEO, NeoGrowth said, “We, at NeoGrowth, are delighted with this association with FMO and deeply appreciate the responsibility that has been placed on us. We believe that this fresh funding from FMO will enable us to accelerate our growth by leveraging our robust business model. We are confident that we will enable more small business owners – that have historically been denied formal credit to fuel their growth aspirations with our financially inclusive lending solutions.”