Moneyboxx Finance Limited (Moneyboxx), a BSE-listed non-banking finance firm that specializes in impact financing by providing business loans to micro entrepreneurs in Tier III and below, announced an equity fund raise of Rs 271 crore during its board meeting on July 17, 2024. The capital raising includes INR 158 crore in preferred equity and Rs 113 crore in equity warrants for both promoters and non-promoters.
The company’s capital position will be significantly improved and its growth plans will be supported by the fund raise. Up to Rs 186 crore of the entire equity capital raise is expected to be infused by August 2024, more than doubling the company’s current capital base to more than Rs 350 crore.
Mr. Deepak Aggarwal, co-founder, Moneyboxx Finance Ltd, commented on the fund raise, saying, “We are excited about the strong support from our investors, which highlights their confidence in our business model and growth prospects. This fresh capital will enable us to enhance our outreach and impact in rural India, providing vital financial support to micro-entrepreneurs and contributing to their economic empowerment.”
Ahmedabad Plane Crash