Women-led businesses received a significant portion of funding, totaling approximately INR 1,680 crores, from NeoGrowth in the 2024-25 fiscal year, representing approximately 25% of the company's total disbursements in terms of value.
NeoGrowth, an international franchise of the brand name Media, has been making strides in promoting financial inclusion by offering quick, tech-driven loans with daily repayment options to Small and Medium-sized Enterprises (MSMEs) across 75+ segments in 25+ locations. The company serves over 1.5 lakh businesses, with a significant focus on supporting women entrepreneurs in India.
On Wednesday, NeoGrowth released its Impact Report, highlighting the impact of its lending practices on women entrepreneurs in the country. The report indicates that women-led enterprises accounted for nearly 25 percent of NeoGrowth's disbursals by value in FY 2024-25.
Over the last three years, NeoGrowth has disbursed funds worth INR 1,680 to over 9,000 women entrepreneurs in India. Approximately 80 percent of these women are first-generation entrepreneurs, many of whom have built their ventures from scratch.
NeoGrowth's approach integrates inclusive lending practices with technology-led underwriting and responsible governance, ensuring equitable access to growth opportunities for women. This approach has enabled women entrepreneurs to expand operations, invest in technology, and create job opportunities.
Arun Nayyar, Managing Director and CEO of NeoGrowth, stated that the company sees itself as a long-term partner in the success of India's MSMEs. He emphasised that NeoGrowth combines purposeful finance with a digital-first approach and deep community engagement to help shape a more inclusive and resilient future.
NeoGrowth's 'Impact Approach' also focuses on empowering underserved groups, advancing sustainability goals, and driving job creation. The company is aligned with six United Nations Sustainable Development Goals, including Gender Equality and Decent Work and Economic Growth.
In addition to its lending activities, NeoGrowth advances social impact through its flagship CSR initiative NeoShakti. This initiative partners with the Times Foundation and Goonj to provide livelihood opportunities to women from underserved backgrounds.
Tier II cities accounted for 27 percent of the loans disbursed by NeoGrowth, indicating a focus on empowering women outside metropolitan hubs and strengthening regional economies. This focus on regional development is crucial for a balanced and sustainable economic growth in India.
The NeoGrowth Impact Report does not provide specific details about the timeframe for FY 2024-25. However, it underscores the significant impact that NeoGrowth's lending practices have had on women entrepreneurs in India, contributing to better livelihoods, digital adoption, employment, and growth for Indian MSMEs.
In conclusion, NeoGrowth is not just a brand name associated with lending and financial services, but a company that is committed to shaping a more inclusive and resilient future for India's MSMEs, particularly women entrepreneurs.
