Moneyboxx Finance has led the charge of driving financial inclusion in rural India by providing much-needed business loans to micro-entrepreneurs. With cumulative disbursements of over INR 1,300 crore up till June 2024, Moneyboxx has provided loans to over 1.6 lakh borrowers (including co-borrowers), of which 58% were women and 30% new-to-credit. The company’s strategic plan includes expanding its branch network to over 160 branches and achieving AUM of over INR 1,300 crore by March 2025 from INR 730 crore as of March 2024. The company has further diversified its presence by opening branches in the southern states of India.
Commenting on the fund raise, Mr. Deepak Aggarwal, Co-founder, 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 micro-entrepreneurs and contributing to their economic empowerment.”
The company remains committed to fostering inclusive growth and creating sustainable livelihoods. The additional capital will also allow Moneyboxx Finance to invest in technology and improve operational efficiencies, further solidifying its position as a reliable financial partner for micro-entrepreneurs in underserved regions.
The Company is supported by 33 lenders, including prominent banks like State Bank of India, HDFC Bank and Kotak Mahindra Bank.
