NeoGrowth Credit Pvt. Ltd. is a non-banking financial company registered with the RBI. NeoGrowth Credit extends short term working capital and inventory loans to small merchants in India against future credit and debit card sales. The startup has been conceptualized & launched by Dhruv Khaitan (DK) and Piyush Khaitan (PK). DK & PK are serial entrepreneurs and have been at the forefront of some of the most interesting technological breakthroughs in India. Their most recent successful startup venture was Venture Infotek, a transaction processing Infrastructure Company for card based payments. Venture Infotek, a pioneer in payments field ,soon grew to be the market leader, handling 35% of all card transactions across India, catering to over 200,000 merchant locations in all major cities and towns for their major clients. Venture Infotek was eventually sold to Atos Group of France in August 2010.
DK & PK would now like leverage their deep experience in technology, understanding of the retail finance sector and building businesses and have launched NeoGrowth. Neogrowth pioneers the breakthrough concept of merchant cash advance system in India. Time is money for today's business and there in comes their unique product that makes better sense for today's business environment. The systems provide a fast and easy process of approving advances / loans by doing away with lengthy paperwork and complex underwriting methods. To achieve this NeoGrowth has built the technology & the financial model for the Indian market.
Nitin has around 12 years of experience in product management, entrepreneurship, product development, program management, operations, online marketing and enterprise sales.
His last role was at Ola as Director Products where he was responsible in defining the roadmap for the Supply product which includes driver apps, driver payments, driver incentives, on boarding of driver, etc. Prior to this, he was at Taxiforsure where he launched a product with “go to home” feature. It was noticed that when a driver log out of the system, he is going home and driving the cab for a normal distance of 6 – 30 kms. The driver was incurring a loss for the distance he drove home. For increasing the booking sales and driver benefit, “go to home” feature helps to increase the booking by 8% within a month. He has had entrepreneurial bent of mind which he has proven by starting his own venture called Edvento.com and Think Admit. He keeps himself abreast with technology and new products in the markets which helps him to innovate and conceptualise new tech products.