Moneyboxx Finance Aims for Rs 1,200 Crore AUM Milestone

Moneyboxx Finance aims to reach Rs 1,200 crore in assets under management (AUM) by the end of the current fiscal year. The NBFC is focusing on secured lending, which now makes up 55% of its AUM. The company plans further expansion in semi-urban markets across India.

Moneyboxx Finance, a non-banking financial company focused on providing business loans to micro-entrepreneurs, announced its goal to achieve Rs 1,200 crore in assets under management (AUM) by the close of this fiscal year.

The company's AUM saw a substantial increase of 16% year-on-year, reaching Rs 892 crore according to financial data from the September quarter. This growth is attributed to a strengthening in its secured lending portfolio, which has grown to represent 55% of the total AUM—a significant rise from the previous year's 32%.

With plans to expand into southern and central India, Moneyboxx is targeting high-growth semi-urban areas, facilitated by a diversified lender base of 30 institutions. The company received an equity infusion of Rs 91.1 crore in the last fiscal year, with further funds expected to support future growth.

(With inputs from agencies.)