Moneyboxx Finance plans to double its workforce by 2023

Reader's Pick

Moneyboxx Finance Limited (Moneyboxx) – an NBFC that provides small-ticket business loans to micro and small enterprises will double its headcount by 300 professionals, taking it to more than 600 by the end of FY 2023. The new hires at entry and mid-level will largely be in areas such as sales, credit risk management, and select important roles in IT.

With the fresh hiring, the team size is expected to grow across domains. For instance, the sales and credit risk teams of Moneyboxx will grow to more than twice their current size.

The new hires will meet the growing demand of individual borrowers to provide small-ticket business loans and build seamless delivery. To keep pace with the increasing customer demand, continue branch expansion efforts and augment its portfolio for diverse technologies, the Company also plans to reach an AUM of Rs 400 crores by FY2023 from about INR120 crores (FY2022, projected).

- Advertisement -

Elaborating on the plans, Mayur Modi, Co-founder – of Moneyboxx Finance Ltd, said, “Our customer base has grown consistently, leading to an increase in demand for full-stack technological and service offerings. As a result, we are seeking experienced professionals across functions and branches for seamless service delivery to customers. Functioning via an entirely digital process, risk analytics, and solid branch unit economics with low Capex and operating costs, our business model will catalyze efforts to boost the workforce.”

Recently, Moneyboxx crossed the Rs 100 crore AUM and plans to reach the figure of Rs 400 crore by FY2023 with its focus on essential sectors and services. To date, the Company has transformed the lives of more than 12,000 borrowers. Of these, 26% were women entrepreneurs, and 31% were first-time borrowers.

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($239 billion) with...

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's dominant...

Rajesh Bysani joins Brainly as its new CPO

A New York headquarter peer-to-peer learning platform, Brainly has announced the appointment of Rajesh...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rahul Gandhi...

Jack Dorsey may not appear before Indian parliamentary Panel on 25 February

Twitter CEO Jack Dorsey will not appear before the Parliamentary panel on IT on...

The Trend to Watch: Alignment v/s Collision of Precision and Persuasion Marketing

The ultimate aim of marketing campaigns is to convince consumers to purchase the product....

5 Reasons Why You Should Focus On Mobile Marketing

In this era of digital marketing, mobile marketing has become the new normal. We...

How To Enhance Safety & Security Protocols At Your Business

As a business owner, it's vital that you invest in your safety and security...

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's dominant...

Tech Trends for Integrated Business Services

Technology has changed the face of business like never before. This is the era...

How imperative is Robotic Process Automation in the HR industry

RPA or Robotic process automation is a technology that utilizes software-based bots to automate...

Feeding India through Ads: A TechGraph Campaign to feed India

As the second wave of Coronavirus (COVID-19) has affected millions of families in India,...

Startups are Eager to Create LGBTQ Friendly Workplace

While the landmark judgment by Supreme Court that abolishes the draconian law encircling homosexuality...

COVID-19: Amazon India partners with Acko General Insurance to offer free health insurance to sellers

India's leading e-commerce company Amazon India on Wednesday announced its partnership with Acko General...