NeoGrowth raises Rs 85 crore from FMO, LeapFrog
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NeoGrowth, a digital lender focused on micro, small and medium enterprises (MSMEs), has raised Rs 85 crore in a funding round involving debt and equity from Dutch development finance institution FMO and LeapFrog Investments.
The Mumbai-based company will use the fresh capital to expand its loan book to nearly Rs 3,000 crore.
Founded in 2011 by Dhruv Khaitan and Piyush Khaitan, NeoGrowth provides collateral-free and secured business loans to MSMEs. It uses digital payment data, POS transactions and cash flows to assess borrowers and offers flexible repayment options. The company operates in over 25 cities, serving more than 1 lakh businesses across 80+ segments.
NeoGrowth last raised Rs 300 crore in a Series D equity funding round in December 2022, led by FMO along with existing investors.
India’s digital lending sector continues to attract investor interest. Prayaan Capital raised Rs 110 crore in February 2026, GetVantage secured Rs 63 crore in August 2026, and FlexiLoans raised Rs 375 crore in June 2025 to expand their lending operations.