The reinvented brand identity reflects the company’s long-standing efforts in delivering growth by helping SMEs meet their financial needs in timely & hassle-free manner possible
Mumbai, August 08, 2019: NeoGrowth, a journey which started with an idea of inclusive growth is now 7 years old. On the way we have met several key milestones. As the founding member of “Digital Lenders Association of India”, NeoGrowth has pioneered the evolution of digital lending in India. NeoGrowth is present in 21 cities with a 700 strong unit and has touched upon 55,000+ potential customers, NeoGrowth has disbursed over 650 million dollars’ worth of loans till date.
As NeoGrowth embarks on the next phase of growth it is imperative to build a strong brand which the customers and other stakeholders can strongly associate with and therefore, they have unveiled the new Brand Identity which reflects the mission and values that NeoGrowth stands for.
The new identity is a brand promise which NeoGrowth lives by every day in their quest for inclusion and growth opportunity for all. A manifestation of Accountability, Customer-focus and Innovation as the core value system. A brand delivering value powered by new age technology and analytics enabling NeoGrowth to make consistent and objective decisions to serve their customers better. And most importantly to identify it as a brand that aspires to deliver growth that matches the customer’s ambitions.
The new brand construct is a sustainable reflection of NeoGrowth’s collective organizational ethos.The new design of the logo reflects the rebranding thought process in the best way possible. With better clarity and enhanced focus on values as the principle behind this exercise, NeoGrowth has succeeded in showcasing growth, prosperity, and freshness through the new logo. The letter ‘G’ in the company’s name has been designed as an upward moving arrow which signifies ‘Pride in Growth’.
Sharing an insight behind the rebranding exercise, Piyush Khaitan, Founder & Managing Director, NeoGrowth remarked, “The idea behind the inception of NeoGrowth was achieving inclusive growth in the country. India is the fastest-growing economy in the world and SMEs form its very backbone, but the segment has been struggling with barriers like finance and time. NeoGrowth was therefore founded as a solution for these businesses, financially empowering them and consequently contributing to the growth of India’s economy.
As a brand, we have been aiming to deliver constant growth while laying emphasis on innovations, accountability, and customer-centeredness. The new brand identity is therefore a sustainable reflection of our mission and values. We believe that everyone deserves an opportunity to grow and through this exercise, we want to strengthen NeoGrowth’s position as that growth enabler for all the SMEs across the country.”
With the new brand identity, NeoGrowth has also created a ‘sonic logo’ that reinforces and captures the essence of the brand. A sonic logo (identity) is essentially a musical note or series of notes that conveys the brand identity, evokes emotional connection and builds brand attribution. Apart from this, NeoGrowth is in process of revamping digital touch points including its website to align it to the new identity and core values, thereby living up to its promise of a hassle-free experience.
NeoGrowth is a pioneer in lending based on the underwriting of digital payments data. The Company’s proprietary technology platform offers unsecured loans to merchants who accept card or other digital payments from customers. Flexible repayment is a hallmark of the NeoGrowth business, offering customer’s small daily auto-repayment facility from card-based sales. NeoGrowth’s mission is to have a positive social impact on the financial lives of small and medium business merchants across India, more than 50% of whom are creditworthy but until now have been excluded from accessing loans based on traditional underwriting methods. NeoGrowth is backed by renowned investors, namely Omidyar Network, Aspada Investment Company, Khosla Impact, Accion Frontier Inclusion Fund – Quona Capital, IIFL Seed Ventures Fund and Leapfrog Investments.