Other Deals - Listed Firms
Lending tech co Moneyboxx Finance raises Rs.271-Cr
Mumbai-headquartered, publicly-listed lending-tech startup Moneyboxx Finance has raised INR 271 crore through issuance of equities. The capital raise includes INR 158 crore through preferential equity issue and INR 113 crore through equity warrants to both promoters and non-promoters. Of the total fund raise INR 186 Cr is expected to be infused by August 2024, which will more than double the company's existing capital base to over INR 350 crore.The funds will be used to support its growth plan and to invest in technology and improve operational efficiencies. Its growth plan includes expanding its branch network to over 160 branches and achieving assets under management (AUM) of INR 1,400 crore by March 2025 from INR 730 crore as of March 2024.Founded in 2018 by Deepak Aggarwal and Mayur Modi, Moneyboxx Finance offers unsecured and secured credit to underserved micro enterprises.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
