“Digital lending platform NeoGrowth raises $47 mn in equity funding: Mumbai-headquartered non-banking financial company (NBFC) NeoGrowth Credit Pvt. Ltd, which provides flexible loans to merchants and offers automated repayment options, has secured Rs 300 crore ($47 million) in equity funding from investors led by LeapFrog Investments,” reported VCCircle. The round had also included existing investors Aspada Investment Company and Quona Capital via the Accion Frontier Inclusion Fund.

Shardul Amarchand Mangaldas & Co advised existing investor, Omidyar Network (via ON Mauritius), led by a team of Siddharth Nair; partner and Garima Jain; associate. Omidyar had invested in the company in 2013.

In 2014, Khaitan & Co had acted for NeoGrowth.

2018-01-18

Deal value: US$ 46.4 million

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