Moneyboxx Finance Raises INR 271 Cr Equity Fund to Enhance Micro-Entrepreneur Support The raised funds will bolster Moneyboxx Finance's capital position, support growth plans, and allow investment in technology and operational efficiencies, enhancing its role as a reliable financial partner.

By Entrepreneur Staff

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Deepak Aggarwal, Co-founder of Moneyboxx Finance Ltd

Moneyboxx Finance Limited, a BSE-listed NBFC providing business loans to micro-entrepreneurs in Tier-III and below areas, announced an equity fund raise of up to INR 271 crore. This includes INR 158 crore through preferential equity and INR 113 crore through equity warrants to both promoters and non-promoters.

As per the official release, out of the total equity capital raised, up to INR 186 crore is expected to be infused by August 2024, which will more than double the company's existing capital base to over INR 350 crore.

The raised funds will bolster Moneyboxx Finance's capital position, support growth plans, and allow investment in technology and operational efficiencies, enhancing its role as a reliable financial partner for micro-entrepreneurs in underserved regions.

Deepak Aggarwal, Co-founder of Moneyboxx Finance Ltd, said, "We are excited about the strong support from our investors, which highlights their confidence in our business model and growth prospects. This fresh capital will enable us to enhance our outreach and impact in rural India, providing vital financial support to microentrepreneurs and contributing to their economic empowerment."

Founded in 1994 as Dhanuka Commercial Private Limited and renamed Moneyboxx Finance Ltd in 2019, this Mumbai-based NBFC caters to the underserved microentrepreneurs in essential segments (livestock, kirana, retail traders, micro-manufacturers) by extending unsecured and secured business loans from INR 1–10 lakhs.

Operating in Tier-III and below cities with 107 branches across eight states (Rajasthan, Madhya Pradesh, Haryana, Punjab, Uttar Pradesh, Chhattisgarh, Bihar, and Gujarat), Moneyboxx claims to have disbursed over INR 1,200 crore to 1.5 lakh borrowers.

Supported by 32 lenders, including major banks like the State Bank of India, HDFC Bank, and Kotak Mahindra Bank, the company aims to expand to 160 branches and achieve an AUM of INR 1,400 crore by March 2025.
Entrepreneur Staff

Entrepreneur Staff

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