NeoGrowth launches ‘diGibizz’ to meet growing business needs of SMEs
The pioneer in SME lending, NeoGrowth Credit Pvt. Ltd., with a unique underwriting model based on digital transactions, has recently announced the launch of “diGibizz”, a platform to
help small businesses meet their growing business needs as well as transform themselves. The company is aiming to cater to over 2 lakh SMEs in the near term, financial and non-financial business needs, by offering access to integrated, best-in-class solutions.
During the pandemic, research was done and it emphasised the crying need of small businesses to digitise their operations, and thus this platform was conceptualised to help them in the stiff competition they had to face from big brands and online apps and portals.
Powered by an in-house expert recommendation engine, the DiGibizz platform, guides small business owners to evaluate their digital readiness. The recommendation engine Digit-O-Meter in order to drive business transformation provides a customized report of actionable measures, based on this real-time, instant evaluation. Along with business solutions for the digital enablement of small businesses, the platform also offers a plethora of choices of execution partners. These include DigiHealth, PayU, Vakilsearch, Snapbizz, Syrow, FloBiz, Smartech Electronics, Near. Store, Accunity Services, Apna.co, Pinnacle Management & Utility Services, Mobicommerce, BrandPulse Marketing Services, Go Digit, Religare, etc.
“NeoGrowth has always focused on creating a positive social impact by lending to first-generation entrepreneurs, assisting women entrepreneurs, and supporting our customers to create jobs and improve credit scores through our loans. We understand the growth, financing, manpower and other challenges that small business owners in India face. DiGibizz is our endeavour to digitally enable small businesses to overcome these challenges and drive business growth in the new normal.” said Mr. Piyush Khaitan, Founder & Managing Director, NeoGrowth Credit Pvt. Ltd.
Ms. Reshma Deokar, the 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.”
With a presence across 27 cities in India, the company serves 70+ industries and it’s headquartered in Mumbai. Over INR 6,000 crores loans has been disbursed to 28,000 customers to date by NeoGrowth. The company disbursed loans to first-generation entrepreneurs, women entrepreneurs, and first-time borrowers, to create a greater
social impact by providing easy finance to under-served markets with advanced tech-solutions. It has heavily invested in analytics, machine learning, digitisation of customer journey and digitally verified alternate sources of data, on the technology front and that helped it reduce the turnaround time for loan sanctions and underwrite basis various types of alternate data. It provides financing to pharmacies, retailers, groceries, restaurants, petrol pumps, apparel shops, Kirana stores and other MSMEs with flexible repayment options and customized products addressing multiple business needs.