Company India’s underserved . fulfills MSME And rural individuals and villagers are engaged in diverse areas such as technology, credit and money technology. It also operates on a hybrid model where it provides technology solutions across its various segments to its partners, who in turn handle the physical phase of customer service for a revenue share. In rural areas, the company is helping retail stores offer payment and financial transactions to customers in their vicinity.
“We are excited by the board’s decision to approve the Hyper Growth Business Plan, which includes an investment of up to Rs 1 billion, to offer the most comprehensive financial inclusion platform in the market, to enable businesses to grow rapidly and with open multiple To build interlinkage. architecture and in a modular format. Given our strong balance sheet, we can support such investments and this sets us up for rapid growth over the next two years.” Amit Rajpal, co-founder Neogin Fintech.
During the quarter ended September, the company posted total income of Rs 25.9 crore, a growth of 230.5% year-on-year. The total rural-technical partners grew by 45.9% to 518, while the rural distribution touch points increased two-fold to 198,593. Gross transaction value (including payments for rural-tech) for the quarter rose to Rs 2,100 crore.
“Our decision to invest incremental capital in the business will enable us to expand the addressable market and connect multiple products to make it the most comprehensive fintech infrastructure platform. This will be a holistic system for our partners, a standalone application, API or SDK based on their requirements,” said Tashwinder Singh, CEO, Neogin Fintech Limited.