Social VC Investments
NBFC Moneyboxx Finance raises Rs.20-Cr from Oikocredit
NBFC Moneyboxx Finance has attracted a INR 20 crore term loan from The Netherlands -based Oikocredit's Indian unit, Maanaveeya Development & Finance, The funds will be used for onward lending to micro entrepreneurs. Moneyboxx is supported by 24 lenders, including SBI, IDFC First Bank, DCB Bank, AU SFB. It has raised cumulative debt of close to INR 400 crore. The BSE-listed NBFC focuses on impact financing by providing business loans to micro entrepreneurs in Tier-III cities and below. The company's cumulative disbursement was over INR 471 crore up to February 2023. Moneyboxx, which provides unsecured and secured business loans, has 56 branches spread across Rajasthan, Punjab, Haryana, Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.
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