Moneyboxx Finance raises fund from DCB Bank

Out of this, Rs 23.9 crore has been availed, Moneyboxx Finance said in a statement. The company plans to utilize the proceeds to support its disbursement target of Rs 150 crore in 2021-22, which will be 2.7 times of its lending in the previous year, Moneyboxx Finance CFO Deepak Aggarwal said.The funds will help the company to further the cause of supporting the deserving micro enterprises and create a positive impact in this segment, he added.

Moneyboxx Finance, an NBFC, on Friday said it has raised Rs 7.5 crore by way of term loan from DCB Bank for on-lending to individuals for agri and allied activities.

With the current round of fundraising, Moneyboxx has so far received sanction of Rs 30.9 crore debt during 2021-22. Out of this, Rs 23.9 crore has been availed, Moneyboxx Finance said in a statement. The company plans to utilize the proceeds to support its disbursement target of Rs 150 crore in 2021-22, which will be 2.7 times of its lending in the previous year, Moneyboxx Finance CFO Deepak Aggarwal said.

The funds will help the company to further the cause of supporting the deserving micro enterprises and create a positive impact in this segment, he added.