Moneyboxx Finance Limited (Moneyboxx), a BSE-listed NBFC, which drives financial inclusion by providing business loans to micro entrepreneurs in Tier-III towns & below places, crossed milestones of INR 300 crores AUM and cumulative disbursements of INR 500 crores # in March 2023. Since its start of operations in February 2019, the Company has transformed lives of over 30,000 households of which 53% were women and 35% new-to-credit.
Strong business growth and productivity led to robust growth in AUM to INR 308 crore as of 20th March 2023, growing by 155% compared to INR 121 crore as of Mar'22. 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 Mar'23. The Company 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.
Commenting on the key milestone, Mr. Mayur Modi, Co-founder, Moneyboxx Finance Ltd said, "We see tremendous growth opportunity in INR 1-10 lacs loan segment given the huge credit gap for micro enterprises and presence of very few focused players in this segment. We have a robust and highly scalable business model which is powered by entirely digital process and risk analytics and have solid branch unit economics with low capex and operating costs. We have a proven business model to service this segment with robust underwriting practices and one of the best asset quality metrics in the industry (90+ PAR at 0.54% of AUM on Dec'22). With the aim of driving financial inclusion in rural India, we aim to reach AUM of about INR 1,000 Crore and 100 branches by FY24 with growing and continuous support from our lenders, Co-lending and BC partnerships, and planned capital raise."
Shares of Moneyboxx Finance Ltd was last trading in BSE at Rs. 151.05 as compared to the previous close of Rs. 151.00. The total number of shares traded during the day was 7347 in over 137 trades.
The stock hit an intraday high of Rs. 154.90 and intraday low of 149.50. The net turnover during the day was Rs. 1119100.00.