Moneyboxx Finance has raised Equity Capital of over Rs 24 crore by way of private placement from non-promoter investors on March 31, 2023. With this funding round, the company has raised capital of Rs 48.4 crore in FY23 (including warrants of Rs 3.36 crore) and total capital of Rs 93.5 crore since its inception.
The company has strengthened its capital position with the recent equity fund raises and plans to use the funds for expanding its scale of operations and tap growth opportunities given the huge unmet credit gap for micro enterprises in the loan segment under Rs 10 Lakh. Company’s AUM reached Rs 345 crore in March 2023, growing strongly by 185% over last year, driven by improving branch productivity and expansion. Moneyboxx doubled its branch network to 61 branches across six states in FY23 and is targeting 100 branches and AUM of Rs 1,000 crore by FY24.
Moneyboxx Finance is a Non Deposit taking Non-systemically Important Non Banking Finance Company (NBFC-ND-NSI) engaged primarily in the business of advancing loans and investing/trading in securities.
