Sanjoy Shome joins NeoGrowth as Chief Risk Officer (CRO)

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NeoGrowth announced today that Mr. Sanjoy Shome has taken charge as Chief Risk Officer (CRO). Sanjoy brings with him over 16 years of vast professional experience in Risk Management in Banking and Financial Services. He is a dynamic manager who has led and has delivered key strategic initiatives. He has also worked on different aspects of risk management with different genres of players in the financial space (Large Indian NBFC, Multinational Bank and MNC NBFC) across all retail lending products. He started his career with Tata Finance Limited in the year 1996 then moved on to Standard Charted Bank, and prior to NeoGrowth was at Fullerton India as The General Manager- Risk where he handled multiple roles in risk management. He is a Chartered Accountant, a Rank holder – 12th All India and 3rd in Northern region and has an MBAin Finance from Gauhati University. At NeoGrowth, Sanjoy will be responsible for Credit Policy, Underwriting and Collections. His function will also include defining a roadmap for AdvanceSuite™, NeoGrowth’s proprietary Enterprise platform in the area of Business Intelligence (BI) and data driven analytical models for Risk Management and Portfolio Performance.


NeoGrowth Credit Pvt Ltd. is a fast growing Non-Banking Finance Company registered with the Reserve Bank of India* and is a member of CIBIL. NeoCash, the Smart Merchant Advance offered by NeoGrowth, is the first of its kind business finance option for Apparel Stores, Groceries, Pharmacies, Restaurants, Salons and other small businesses with unique features. NeoCash is tailor made for merchants accepting card payments, as it has no fixed EMI and allows Automatic Repayment. The product requires Minimum Documentation, and comes with Doorstep Fulfilment Service. NeoGrowth has been set up by DK & PK Khaitan in 2011, and Omidyar Networks, a Silicon Valley VC fund, also has an equity investment. Having piloted the product in 2012-13, NeoGrowth has launched commercial operations in Mumbai, Delhi, Bengaluru and plans to expand to other markets in India. NeoGrowth has built AdvanceSuite© , the most sophisticated Business Advance platform in the world, which enables seamless enterprise wide workflow integration, automated tracking, robust risk management, reporting and business intelligence capabilities. * The company is having a valid Certificate of Registration dated September 30, 2013 issued by the Reserve Bank of India under section 45-IA of the Reserve Bank of India Act, 1934. However the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinion expressed by the company and for repayment of deposits / discharge of liabilities by the compan

NeoCash now available to mCommerce Merchants

Screen Shot 2016-05-12 at 9.04.06 pmNeoGrowth today announced that NeoCash, the Smart Merchant Advance is now also available to mCommerce merchants in India. NeoGrowth has successfully integrated the Mobile Payment Device with its AdvanceSuite© platform. This allows merchants to use their Smart phones along with a Bluetooth device to accept card payments for their business. Their transactions are completely secure and meet EMV& PCI- DSS requirements. They allow for chip card usage and also for secure PINentry. NeoGrowth now offers a Full Service Pack to its customers which includes the Smart Phone, Card Acceptance Device, Payment Processing Support, Merchant information Portal and Data Plan in one single package. What’s more, The Smart Phone has a dual SIM compatibility, so that the merchant can use it for other voice & data purposes but the card information is always secure. NeoGrowth has always wanted to focus on low ticket merchants and this is the lowest cost reliable solution available. Mr. Piyush Khaitan, M.D of NeoGrowth said, “Card acceptance in India is now at 1 million outlets. The next big jump will be to 3 million outlets over the next 3- 4 years. We believe that mCommerce is a critical ingredient for this big step up to happen.” NeoGrowth has also created a unique delivery model for its customers using this solution. Business Advances can be funded in 3 days from sanction. This is a first, and a feature which is much appreciated by customers in need of immediate funding. The customer also gets access to an online information portal, whereby transactions can be viewed in real time, and an auto settlement capability which ensures next day automatic payment.