BSE listed NBFC Moneyboxx Finance Ltd (MBFL) has raised Rs 10 crore from three NBFCs — Caspian Impact Investments, BlackSoil Capital, and Ashv Finance Pvt Ltd.

Moneyboxx plans to use the funds to support its disbursement target of Rs 75 crore in the current fiscal, which will be two times of its lending in 2019-20.

Started by Deepak Aggarwal, Mayur Modi, and Prashant Agarwal, Moneyboxx is an RBI registered NBFC providing small unsecured business loans to Micro and Small Enterprises.

Talking about the funding, Deepak Aggarwal, Co-CEO and CFO at Moneyboxx, said,

“The funds will help us to further our cause of supporting the deserving micro-enterprises and create a positive impact in this segment.”

Moneyboxx has 22 branches spread across four Indian states —Punjab, Haryana, Rajasthan, and Madhya Pradesh. The NBFC plans to open 24 new branches in FY22 along with its medium-term aim to build a Rs 1,000 crore asset under management (AUM) within the next three years.

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