Moneyboxx Finance has raised equity capital of Rs 14.41 crore by way of private placement from non-promoter investors. The company has strengthened its capital position with this fund raise and plans to use the funds for expanding its scale of operations and tap growth opportunities given the huge unmet credit gap for micro enterprise. The company’s AUM (Assets Under Management) will cross Rs 100 crore in Jan 2022, supported by growing business at existing branches, and the fund raise would further augment AUM expansion by additional Rs 75 crore.
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.