NeoGrowth Raises Rs 85 Crore Led by FMO for MSME Lending

9 Oct 2026, 2:51 pm · 11h ago · 1 min read · YourStory

Amount

Rs 85 Cr

Lead

FMO

MSME-focused digital lending platform NeoGrowth has raised Rs 85 crore in an investment round led by Dutch entrepreneurial development bank FMO, alongside existing backer LeapFrog Investments. Founded by Dhruv Khaitan and Piyush Khaitan, the Mumbai-based fintech manages assets under management of nearly Rs 2,000 crore and has disbursed over Rs 16,000 crore. NeoGrowth plans to deploy the fresh capital to expand credit access for small businesses, enhance proprietary AI underwriting frameworks, and broaden branch distribution across India. FMO previously invested $20 million in equity in NeoGrowth in 2022 to boost inclusive MSME lending.