NeoGrowth Credit Pvt. Ltd

Loans for small and medium retailers based on card sales

India

NeoGrowth Credit Pvt. Ltd (NeoGrowth) is a Non-Banking Financial Company (NBFC) that was founded in 2013. The company has adopted a unique business model of providing loans against future credit and debit card sales of small and medium to retailers who use point of sale (POS) swiping machines.

The loans are a percentage of the card sales of a shop and have an average duration of between six months and two years. Clients replay their loans automatically, again as a percentage of their monthly card sales.

This FinTech company has successfully pioneered the model in India, which include risk and credit assessment tools.

With electronic payments set to become more and more popular in India, NeoGrowth has the potential to further expand its business activities.

NeoGrowth Credit Pvt. Ltd has been an Oikocredit partner since 2017.