Moneyboxx Finance Limited (Moneyboxx), a BSE-listed NBFC, which provides small-ticket business loans to micro and small enterprises in Tier-III towns & below places, crossed milestone of INR 100 crores AUM in Jan 2022, driven by rising branch productivity and strong disbursements in Q3FY22. Cumulative disbursements reached INR 168 crores as on Jan’22. The Company, which raised INR 14.41 crore of Equity in Dec’21 and is supported by 17 lenders, plans to add 6 branches by March 2022, taking its branch network to 30 in 5 states. The company targets AUM of INR 400 crores in FY’23.
The company’s AUM is well diversified across geographies and sectors with focus on essential sectors and services, thus lending stability to portfolio quality. AUM is well diversified across states with no single state accounting for more than 35% of AUM as of Jan’22.
Moneyboxx is driving financial inclusion by providing credit for income generation to underserved micro enterprises in Tier-III and below places in India. Moneyboxx has so far transformed lives of more than 12,000 borrowers of which 26% were women entrepreneurs and 31% first-time borrowers. We are enabling multi-fold increase in disposable income of our borrowers by providing credit for asset purchase, working capital and income generation purposes, thus creating a sustainable impact beyond just capital. Our loans can lead to doubling of an agri-entrepreneur in three years and bring a transformational change. Moneyboxx is possibly the only NBFC in India which is hiring Vets in branches to help dairy farmers improve milk-yield and cattle health. Thus, it is committed to bring a positive change even beyond financing.
Commenting on the key milestone, Deepak Aggarwal, 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 (Dec’21 GNPA 0.68%). We plan to reach AUM of INR 400 crores by FY23 with planned capital raise and growing & continuous support from our lenders.”
