MSME financing platforms have truly become lifelines in a myriad of ways — from saving generational businesses from going under to helping businesswomen assert their professional and financial freedom, and so much more.
Digital lender NeoGrowth Credit is one such company. In FY 2020-21, NeoGrowth extended loans to 1,197 women — or 16.4 percent of the total borrowers — as per its Social Impact Report.
NeoGrowth removes the gender bias from the loan disbursal process, welcomes women entrepreneurs and helps improve their livelihood, thereby playing a vital role in the upliftment of the women entrepreneur’s community.
And it’s not just women. Over the last year, the fintech startup has extended credit lines to first-time entrepreneurs, retailers, restaurants, apparel shops, pharmacies, medical clinics, and grocery shops, too.
Founded in 2013 by Dhruv Khaitan and Piyush Khaitan, NeoGrowth Credit is headquartered in Mumbai. It is present in 24 other cities in India.
The digital lending platform specifically targets micro, small, and medium enterprises. It offers a range of secured and unsecured credit products for different sizes of businesses.
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From running 50 outlets in 20 cities, growing revenue from Rs 86 lakh to over Rs 100 crore and launching BBK Cares, hear it all from Kaushik Roy, Founder and CEO, Biryani By Kilo, in this episode of Build & Grow: Money Matters.
Editor’s Pick: Prime Venture Podcast
Sukhinder Singh Cassidy, Founder and Chairman, theBoardlist, is an investor and a board member with over 25 years of industry experience. The secret to her success, Sukhinder says, lies in the incremental smart risks she has taken during her journey.
In this episode of the Prime Venture Podcast, Sukhinder talks about smart risk-taking and balancing gut feeling and data in decision-making. Read more.
Hearing impairment and deafness is a common congenital disability in India. According to media reports, it is estimated that over 27,000 children are born deaf every year in India. People who are born deaf, unfortunately, also have trouble in speech development as they are not able to hear their sounds.
Founded in 2014, New Delhi-based 4S Medical Research’s mobile application See Sound Live provides people born with hearing loss with visual equivalents for different sounds to help them develop speaking skills. Read more.
Illustration: YS Design
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“We help advance sustainable development and address societal challenges like lack of access to capital, lack of support for entrepreneurship, and gender inequality (when accessing capital via credit).”