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Moneyboxx Crosses Rs 500 Cr Cumulative Disbursements And Rs 300 Cr AUM
A proven business model to service this segment with robust underwriting practices and one of the best asset quality metrics in the industry
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Moneyboxx Finance, a BSE-listed NBFC on Wednesday said that it crossed Rs 300 crore AUM and cumulative disbursements of Rs 500 crore in March 2023.
Strong business growth and productivity led to robust growth in AUM to Rs 308 crore as of 20 March 2023, growing by 155 per cent compared to Rs 121 crore as of March 2022, it added.
The Company added 26 branches in the current financial year so far, expanding its branch network to 56 branches across 6 states as of 20th March 2023.
It is in the process of raising equity in March 2023 and is supported by 24 lenders including leading banks, NBFCs, impact funds, and additionally has co-lending and business corresponding partnerships in place with lenders.
Mayur Modi, Co-founder, Moneyboxx Finance said, “We see tremendous growth opportunity in Rs 1-10 lakh loan segment given the huge credit gap for micro enterprises and presence of very few focused players in this segment."
With the aim of driving financial inclusion in rural India, the company is aiming to reach AUM of about Rs 1,000 crore and 100 branches by FY24.