Moneyboxx raises Rs. 25 cr from NBFCs
Moneyboxx Finance that provides small-ticket loans in Tier-II and III towns on Thursday said it has raised Rs 25 crore in debt from a slew of lenders, including NBFCs and a small finance bank since January 2021, which will be towards impact funding, among others.
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New Delhi: Moneyboxx Finance that provides small-ticket loans in Tier-II and III towns on Thursday said it has raised Rs 25 crore in debt from a slew of lenders, including NBFCs and a small finance bank since January 2021, which will be towards impact funding, among others. The BSE listed company also plans to raise over Rs 200 crore in 2021-22 with a mix of debt and equity financing. As many as nine new lenders including AU Small Finance Bank, Hinduja Finance, Ambit Finance, InCred Financial, UCInclusive Credit, Profectus Capital, Capri Global and others have reposed faith in Moneyboxx Finance by providing debt support to the company, it said in a release. Moneyboxx Finance Ltd (MBFL) further said it plans to utilise the proceeds to support its disbursement target in the current and upcoming financial year. It will also utilise the proceeds to undertake 'impact funding', thus benefiting the society at large. Earlier during 2020-21, MBFL had raised a debt of Rs 20 crore from three NBFCs.
"With this MBFL has been able to diversify its borrowing profile by adding twelve new lenders in this fiscal year, thus taking its total lender count to 14," it said. MBFL further said its asset under management (AUM) would grow at over 100 per cent in 2020-21 despite negligible business in the first half of the fiscal due to the Covid-19 pandemic.
