Add TechGraph on Google
Moneyboxx Finance Limited (Moneyboxx), a BSE-listed NBFC, which provides small-ticket business loans to micro and small enterprises in Tier-III towns & below places, crossed the milestone of Rs 100 crores AUM in Jan 2022, driven by rising branch productivity and strong disbursements in Q3FY22. Cumulative disbursements reached Rs 168 crores as of Jan’22.
The Company which raised Rs 14.41 crore of Equity in Dec’21 and is supported by 17 lenders, plans to add 6 branches by March 2022, taking its branch network to 30 in 5 states.
The company targets an AUM of INR 400 crores in FY’23.
Commenting on the development, Mr. Deepak Aggarwal, Co-founder, Moneyboxx Finance Ltd said, “We see tremendous growth opportunity in the Rs 1-10 lacs loan segment given the huge credit gap for micro-enterprises and presence of very few focused players in this segment. We have a robust and highly scalable business model which is powered entirely by digital process and risk analytics and have solid branch unit economics with low CAPEX and operating costs.”
“We have a proven business model to service this segment with robust underwriting practices and one of the best asset quality metrics in the industry (Dec’21 GNPA 0.68%). We plan to reach AUM of INR 400 crores by FY23 with planned capital raise and growing & continuous support from our lenders,” Aggarwal added.