Edu-Visor :Moneyboxx Finance to raise Rs 100 crore this fiscal, first tranche likely in May

Moneyboxx Finance to raise Rs 100 crore this fiscal, first tranche likely in May

The non-banking finance company plans to raise the capital in two phases. It is in the process of raising Rs 20 crore next month from high-net worth individuals. This would be followed by another Rs 80 crore equity raising later in the fiscal from institutional investors, said Deepak Aggarwal, co-founder and co-chief executive officer.

Moneyboxx Finance, a BSE-listed startup that offers small-ticket loans to dairy farmers and shop owners, plans to raise funds and expand its net worth nearly fourfold to Rs 135 crore this fiscal.

The non-banking finance company plans to raise the capital in two phases. It is in the process of raising Rs 20 crore next month from high-net worth individuals. This would be followed by another Rs 80 crore equity raising later in the fiscal from institutional investors, said Deepak Aggarwal, co-founder and co-chief executive officer.

“We plan to raise the capital in such a way that the capital also takes care of next year's growth as well,” Aggarwal said.

The lender had mobilized Rs 14.4 crore in December last year by selling shares to non-promoter investors at Rs 95 per share of Rs 10 face value.

The firm got itself registered as Moneyboxx Capital Private Ltd before acquiring Dhanuka Commercial Ltd -- an existing listed NBFC -- and renaming itself Moneyboxx Finance. It started operations in 2019

Its assets under management stood at Rs 122 crore as of March 31. The lender aims to take its AUM to Rs 400 crore by the end of this fiscal

Team Edu-Visor