India, Oct. 9 -- MSME-focused lending platform NeoGrowth has secured Rs.85 Cr ($8.8 Mn) in a mix of debt and equity round led by Dutch development bank FMO, with participation from LeapFrog Investments.

The startup is planning to use the fresh capital to scale its digital lending capabilities, deepen market presence across India and expand access to credit for MSMEs.

Founded in 2012 by brothers Dhruv and Piyush Khaitan, NeoGrowth offers loans to MSMEs across more than 75 business segments, targeting small businesses that often have difficulty accessing credit. Its lending model also includes daily repayment options and multiple repayment channels.

The fresh capital will aid the NBFC in scaling and supporting more MSMEs with timely and ...