NeoGrowth Secures ₹85 Crore In Debt And Equity Led By FMO

9 Oct 2026, 2:17 pm · 2h ago · 1 min read · Inc42New

Amount

₹85 Cr

Lead

FMO

MSME-focused digital lending platform NeoGrowth has raised ₹85 crore ($8.8 million) in a mix of debt and equity funding. The round was led by Dutch development bank FMO, alongside participation from LeapFrog Investments. Founded in 2012 by Dhruv and Piyush Khaitan, Mumbai-based NeoGrowth provides collateral-free credit ranging from ₹5 lakh to ₹75 lakh to small businesses using proprietary AI-driven underwriting. The company currently manages assets under management of nearly ₹2,000 crore across 46 branches. The fresh capital will be used to enhance digital lending capabilities and expand its geographic footprint.