Moneyboxx Finance Targets Rs 1,000 Crore Milestone in Micro Entrepreneur Lending

Moneyboxx Finance aims to achieve Rs 1,000 crore assets under management by the end of the fiscal year, focusing on a secured lending portfolio. With over 160 branches across 12 states, it plans to enhance its presence in southern and central India. Equity infusion aids its growth strategy.

Moneyboxx Finance, a leading non-banking financial company (NBFC), is set to reach a significant milestone of Rs 1,000 crore in assets under management (AUM) by the fiscal year's end. This ambitious goal highlights the company's commitment to supporting micro entrepreneurs with crucial business loans.

Their latest financial results reveal a 16% year-on-year increase in AUM, reaching Rs 892 crore by the September quarter. A major aspect of this growth is the bolstering of the company's secured lending portfolio, which now represents 55% of its total AUM, a sizeable jump from 32% last year.

Operating across 160 branches in 12 states, Moneyboxx Finance is strategically positioning itself for further expansion, particularly in high-growth semi-urban regions. With a strong lender base and recent equity infusion, the company aims for sustainable development and impactful lending in India's micro-entrepreneurial sector.

(With inputs from agencies.)