NeoGrowth raises ₹85 Cr from FMO, LeapFrog
By Abha Lohia ·
- NeoGrowth is a Mumbai-based digital lender that gives loans to small offline businesses such as shops, restaurants and cafes
- It has raised ₹85 crore from Dutch development bank FMO and existing backer LeapFrog, with about 70% of it coming as equity
- The money will grow its loan book towards ₹3,000 crore, and a bigger equity round of about ₹500 crore is planned next year
What happened
- NeoGrowth raised ₹85 crore in equity and debt.
- About 70% of the round is equity.
- FMO and existing investor LeapFrog put in the money.
Why it matters
- The cash lets the lender grow its loan book after a hard credit year.
- It can reach nearly ₹3,000 crore before another equity round.
The business
- NeoGrowth is a digital lender for small businesses.
- It lends mainly to offline retailers, restaurants and cafes.
The founders
Who put in money
- FMO investor — Dutch development finance institution
- LeapFrog Investments existing investor
What happens next
- A roughly ₹500 crore equity round is planned next year.
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