Based out of Mumbai, NeoGrowth Credit is a non-deposit taking NBFC pioneering the Merchant Cash Advance business in India. It has been founded by Dhruv and Piyush Khaitan in 2011, after they successfully sold their transaction processing firm, Venture Infotek in mid-2010 to Atos Worldline. NeoGrowth offers business financing to small and medium sized retailers, including Restaurants, Hotels, Departmental Stores and allied businesses, in a unique POS linked model.

In mid-2013, the company raised its first round of capital from Omidyar Network India Advisors Pvt Ltd. Later in early 2014, NeoGrowth raised a second round of funding from Aspada Investment Company. The fresh round of funding will help cater to growth in demand, from largely untapped Micro Enterprise business market opportunity.

Mr. Sanjoy Shome has been appointed by Neogrowth Credit as Chief Risk Officer (CRO) where he will be responsible for Credit Policy, Underwriting and Collections. A Chartered Accountant with an all India 12th rank, Sanjoy also has a MBA in Finance degree from Guwahati University. He brings with him a vast experience of 16 years in Risk Management with various banking as well as Non-Banking Financial service providers. He began his career at Tata Finance Limited in 1997 and then moved to Standard Chartered Bank. In April 2007 he joined Fullerton India as VP – Risk Analytics and was in the role of General Manager – Retail Risk before he joined NeoGrowth Credit.