Moneyboxx Finance raises Rs 25 crore; proceeds to be utilised for Impact Funding

Moneyboxx Finance Ltd, a non-banking finance company that provides loans to micro & small enterprises announced that it has successfully raised Rs 25 crore in debt from a group of lenders. 

The company informed that the list of lenders include non-banking finance companies (NBFCs) and small finance banks.  

The company added nine new lenders to its network, which included AU Small Finance Bank, Hinduja Finance, Ambit Finance, InCred Financial, UC Inclusive Credit, Profectus Capital, Capri Global along with two other companies. With this, the lender base of the company has increased by twelve, of which, three were added earlier this fiscal year. The total number of lenders now stands at fourteen.  

The company is planning to utilise the raised amount to support its disbursement target in the current and upcoming financial year. It also aims to undertake ‘Impact Funding’, which will benefit the society at large.   

The raised funds will help the company in scaling up its business operations and expand further. It will also help to boost profitability and help in providing funds to businesses that need it.  

At 12.40 pm today, the share price of Moneyboxx Finance Ltd stood at Rs 62.20, which was a decrease of 4.31 per cent over its previous day’s close of Rs 65 on BSE.