NeoGrowth Credit Private limited, a leader in Indian SME lending, announced yesterday that Ajinkya Rahane, the Indian Cricket Test Team’s Vice-Captain, has joined the company as a brand ambassador. The deal is for a year, but it can be extended further.
Rahane will endorse the company’s service products. He will feature in the campaign “Keeping it simple” that will launch in the first week of April and will demonstrate the ease at which small companies can access loans through NeoGrowth.
This organization’s goal is to bring attention to the day-to-day problems of small businesses, which often face enormous obstacles when it comes to scaling up. Such challenges can be resolved with determined hard work and support from development enablers like NeoGrowth, and the lives of millions can be improved.
Speaking about the association, Rahane said, “Small businesses help to create large scale employment opportunities and provide goods and services in every nook and corner of India. Unfortunately, their growth is often hampered due to a lack of funds. With this association, I want to spread awareness about how NeoGrowth can support businesses in their growth journey through simple, tension-free loans for every requirement.”
Arun Nayyar, CEO of NeoGrowth Credit Pvt. Ltd., said: “Ajinkya’s personality and journey resonate with millions of small businesses which are our target consumer base. He has overcome many challenges in his career through hard work and simplicity which will connect with our TG (target group) and help us connect deeply with them. Through this campaign, we wish to convey to small business owners that obtaining and repaying loans is not a tough task.”
Nayyar further added: “For FY22, we have growth targets of 50%. Currently, we stand at 1,300 crores worth of assets and we plan to take it to Rs2, 000 crores. Such a target needs a strong route to the market therefore, we wish to go beyond our channel partners and alliances. We want to increase our direct connect to businesses.”
With over 70 sectors served and a presence in 27 markets, the company is headquartered in Mumbai. According to the group, over INR 6,200 crore in loans has been disbursed to 29,500 customers. Omidyar Network, Aspada Investment Firm, Khosla Impact, Accion Frontier Inclusion Fund-Quona Capital, IIFL Seed Ventures Fund, and Leapfrog Investments are among the investors who have backed NeoGrowth.
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