Khaitan & Co advised NeoGrowth Credit in relation to fresh investment in the form of compulsorily convertible preference shares from IIFL Seed Ventures Fund I and Series B funding.

Funding was in the form of compulsorily convertible preference shares from the existing investor shareholders – Omidyar Network, Aspada Investment Company, Khosla Impact and Accion Frontier Inclusion Fund, Mauritius.

Ashish Razdan (partner), Tanushree Bhuwalka (senior associate) and Pavi Jain (associate) represented the client on the transaction.

NeoGrowth is a non-banking financial company registered with the Reserve Bank of India engaged in offering a technology platform for lending services on pay per use basis.