NBFC Moneyboxx Finance raises Rs.14.4 Cr via private placement

Gurugram-based NBFC Moneyboxx has raised INR 14.41 crore by way of private placement from non-promoter investors. The startup provides small-ticket loans to SMEs in Tier III and IV cities. It plans to use the funds for expanding its scale of operations and tap growth opportunities given the huge unmet credit gap for micro-enterprises. The company's AUM is expected to cross INR 100 crore in January 2022, supported by the growing business at existing branches. The fundraise would further augment AUM expansion by an additional INR 75 crore.