Akshata Sharma
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Mumbai-based non-banking financial company (NBFC) NeoGrowth Credit Pvt. Ltd. has raised $11.2 Mn (INR 93.7 Cr) in debt from impact investment firm Symbiotics Group
As per its regulatory filing, the startup has allotted 9,376 non-convertible debentures to Symbiotics Group's two special purpose vehicles - AAV Sarl and Masala Investments Sarl.
NeoGrowth has to repay the debt with an interest of 12.15% per annum within a tenor of 60 months (5 years).
Founded in 2013 by Dhruv Khaitan and Piyush Khaitan, NeoGrowth offers tailored credit solutions to small and medium-sized businesses across 70+ segments. The lendingtech platform's offerings range from vendor financing to retail-focused loans.
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