NeoGrowth Credit hits Rs 1,000-crore of AUM

BENGALURU: NeoGrowth Credit, a digital lending platform for small businesses in India, has reached Rs 1,000 crore of AUM (Assets under management) on Tuesday, the company said.

Having started operations in 2013, within five years the company has grown its loan disbursement to Rs 1,350 crore from Rs 9 crore. They have set a target of total loan disbursement of Rs 3,300 crore for the next financial year.

In a press release the company said that its approach of using digital payments helps merchants to plan their cash flows better and also boosts entrepreneurship.