Launch of Bengaluru Office

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NeoGrowth establishes its presence in South India with a fully operational branch office at Bengaluru. This is NeoGrowth’s third branch after successfully launching and establishing branches in Mumbai and Delhi earlier this year. NeoCash, the convenient Business Cash Advance from NeoGrowth is based on repayment out of card acceptance at Merchant establishments. Speaking on the occasion, Mr. P.K. Khaitan, Managing Director of NeoGrowth Credit Pvt Ltd., said, “With the opening of the Bengaluru office NeoGrowth now geographically covers 55% of India’s card acceptance footprint. Now we will focus on deeper penetration in these cities and build market share before venturing further. Bengaluru is a fast growing card acceptance market, and NeoCash will enable small businesses to access growth capital in a speedy and convenient way.” 2013 has been pivotal for NeoGrowth as we transited from primary stages of planning to launching to acquiring and enriching the value of our portfolio. Bengaluru the second – fastest growing metropolis in India, with a GDP of US$83 billion, has become a hub for economic & cultural activities. The presence of global IT companies has transformed Bengaluru into a high growth city, a preferred business destination. It is the fourth among the top 15 cities contributing to India’s overall Gross Domestic Product (GDP). The Bengaluru office is headed by the diversely experienced Gopal Bennuri – AVP Sales. He will head a team of 10 members initially and expand as required. Gopal specialises in the fields of credit cards, merchant acquiring, payments, remittances, process controls, and telecom wireline solutions. Having more than 10 years of experience with premier organisations. We look forward to seeing him translate his expertise into business numbers for the Southern region.

Mr. B. Ravi Kumar joins as Chief Financial Officer (CFO)

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We welcome Mr. B. Ravi Kumar to the NeoGrowth family as our Chief Financial Officer. Mr. Ravi Kumar has extensive experience in Finance, Legal Corporate Affairs, Risk and Compliance and IT. He has also handled Cross functions like HR, IT, Quality and Operations. In his most recent assignment he served as CFO cum COO at Atos Worldline India Pvt Ltd (earlier known as Venture Infotek Global Pvt. Ltd.), for the South East Asia Region. A company having core expertise in hi-tech transactional services and a leader in end-toend services for critical payment transaction management. Earlier he was responsible for the administration and efficient operations for a full-fledged corporate finance function as well as Managed Project funding, working capital funding of a large steel project dealing with all the major Development Financial Institutions and a consortium of Commercial banks at Sunflag Iron & Steel Co. Ltd. Speaking on this occasion Mr. P.K Khaitan, Managing Director of NeoGrowth Credit Pvt Ltd., said, ” Ravi and I have worked together for over a decade, and he has consistently performed above expectation as CFO of Venture Infotek, where I was CEO. I have every confidence that he will be a great asset to NeoGrowth and with NeoGrowth scaling business at a rapid pace, we are excited to welcome the expertise of this industry veteran who brings a total of 35 years work experience to the management team.” Mr. Ravi Kumar is an ACS and ACMA along with an MSc to his credit, an Alumni of Nanyang School of Business, Singapore. A Leadership Management Programme from Berkeley University, Haas School Of Management, USA and has also been a part of the Management Training from IIM Bangalore