Chennai, March 1, 2021: NeoGrowth Credit Pvt. Ltd.,a pioneer in SME lending in India, recently launched diGibizz, an end-to-end platform to help small businesses become digital-ready. The company aims to help over 2 lakh SMEs double their turnover in 3 years by offering access to best-in-class digital solutions through business solution providers.
The platform was conceptualised based on a research done during the pandemic that small businesses need to digitise their offerings to meet stiff competition from big brands and shopping apps and portals.
With the diGibizz platform, the company aims to provide consultation and technology solutions that help small businesses scale up and become profitable. After a quick analysis, customised solution will be provided to business owners such as retailers, restaurants, apparel shops, kirana stores, petrol pumps, groceries, pharmacies and other MSMEs. This could be financial, non-financial, or combination of both depending on the gaps that small business owners have identified through diGibizz Digit-O-Meter smart analysis.
“NeoGrowth has always focused on creating a positive social impact by lending to first-gen entrepreneurs, assisting women entrepreneurs, and supporting our customers to create jobs and improve credit scores through our loans. With the shift to e-commerce, online bill payments & e-groceries since Covid, our diGibizz platform will become more relevant to customers. DiGibizz is our endeavour to digitally enable small businesses to transform themselves and drive business growth in the new normal. With diGibizz and other suite of offerings, we are aiming to reach Rs 2,000 crore of AUM by FY22.” said Mr. Piyush Khaitan, Founder & Managing Director, NeoGrowth Credit Pvt. Ltd.
Ms. Reshma Deokar, owner of Advait Medical & General Store, Mumbai, one of the first customers of the platform, said, “In the fast-evolving pharma sector, diGibizz has supported a woman entrepreneur like me at the right time to upgrade my business. Today, my business has grown to the next level with NeoGrowth’s support.”
The diGiBizz platform is available on http://digibizz.neogrowth.in.
Headquartered in Mumbai, the company serves 70+ industries with a presence across 27 cities in India. NeoGrowth has disbursed over INR 6,000 crores loans to 28,000 customers till date. To create a greater social impact by providing easy finance to under-served markets with advanced tech-solutions, the company disbursed loans to first-generation entrepreneurs, women entrepreneurs, and first-time borrowers. On the technology front, it has heavily invested in analytics, machine learning, digitisation of customer journey and digitally verified alternate sources of data, which has helped it reduce the turnaround time for loan sanctions and underwrite basis various types of alternate data. It provides financing to retailers, restaurants, apparel shops, kirana stores, petrol pumps, groceries, pharmacies and other MSMEs with flexible repayment options and customized products addressing multiple business needs.
