Moneyboxx Finance Limited, a BSE-listed NBFC, has raised INR 176 crore through the allotment of equity shares and convertible warrants. This includes INR 63 crore from a preferential equity issue and INR 113 crore from warrants. The company has received INR 91 crore so far, with the remaining INR 85 crore expected within 18 months.
As of August 31, 2024, its net worth had increased by over 50% and is set to double with this funding. Most of the capital raised comes from promoters and existing shareholders, underscoring their confidence in the company’s growth.
The recent INR 176 crore capital raise positions Moneyboxx Finance to reach its goal of over INR 2,500 crore AUM by FY26 and supports ongoing capital-raising efforts. The company, which has disbursed over INR 1,300 crore in business loans to more than 1.6 lakh borrowers , 58% of whom are women plans to expand its branch network to over 160 locations and increase AUM to INR 1,300 crore by March 2025. It has also begun expanding into southern India.
Co-founder Mr. Deepak Aggarwal expressed enthusiasm for the strong investor support, which underscores confidence in Moneyboxx’s growth strategy. The new funds will boost outreach and impact in rural areas, support technology investments, and enhance operational efficiency. Moneyboxx Finance is backed by 33 lenders, including State Bank of India, HDFC Bank, and Kotak Mahindra Bank.